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Business News/ News / India/  Reliance Retail Q4 PAT jumps 12.9% YoY, records highest ever footfall

Reliance Retail Q4 PAT jumps 12.9% YoY, records highest ever footfall

  • The Mukesh Ambani led retail chain's gross quarterly revenue was up by 19.42 per cent to 69,267 crore, from 58,019 core in the corresponding quarter last fiscal.

Reliance Retail's posted a EBITDA which shot up by 32.6 per cent YoY to 4,925 crore.

Reliance Retail on Friday reported 12.9 per cent jump in its consolidated net profit for the March quarter to 2,415 crore. The Mukesh Ambani led retail chain's gross quarterly revenue was up by 19.42 per cent to 69,267 crore, from 58,017 core in the corresponding quarter last fiscal. Reliance Retail posted a EBITDA which shot up by 32.6 per cent YoY to 4,914 crore.

“Retail business registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall. We continue to expand our product base across consumption baskets, ensuring our customers get world-class products at affordable prices. Our retail team has an unwavering focus on enhancing consumer experience and ease of shopping," said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

The company has recorded its highest ever footfall at 219 million across all formats. The business expanded its physical store network with 966 new store openings.

The company said that retail segment delivered strong performance during the led by growth in grocery, consumer electronics and fashion & lifestyle.

“Reliance Retail continues on the path of registering industry leading growth year after year at a scale unmatched in India…Our focus on customer-centricity backed by investments in technology, innovation and new business segments have helped us create operational excellence and steer the transformation of India’s retail sector," Reliance Retail Ventures Executive Director Isha Ambani said.

In FY 23, the business has opened over 3,300 stores, taking total count to 18,040 stores with a total area of 65.6 million sq. ft.

“The year reflects an unprecedented growth of retail footprint as business has added 25 million sq ft store area representing more than 50% growth of retail space Y-o-Y," said RIL in its regulatory filing.

The digital commerce and new commerce contributed to 18% of the revenue, said the company.

The business has added new growth initiatives to its portfolio by foraying into FMCG and beauty businesses.

The FMCG business launched several products during the year including Independence brand and the iconic beverage brand, Campa. The beauty business launched digital commerce platform Tira and opened its flagship store in Mumbai.

Consumer electronics business grew on the back of festive events, promotions and new launches, as per the press release. The business also saw best-ever Republic Day period sales performance with revenue growth of 35 per cent YoY.

The fashion & lifestyle vertical delivered a revenue growth of 19 per cent YoY led by wedding season & festivals resulting in higher bill values and improved conversions.

AJIO reported another strong quarter with improvement across operational metrics. The expansion continued with catalogue size crossing 13 lakh options, making it a onestop shop for all fashion needs.

The premium brands business saw a 35 per cent growth YoY driven by its wide product and brand offering.

The food and beverages portfolio by entering into exclusive partnerships with EL&N cafe. The business also entered into a JV with Circle E Retail to vertically integrate its toy business.

The Jewelry business saw a revenue growth of 28 per cent YoY, on the back of wedding season and regional festivities. The business continued to focus on strengthening product offering with new collection launches.

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