Reliance Retail revenue up 25% in March quarter on strong recovery

Reliance Retail, the retail arm of Reliance Industries (RIL), reported a 25 per cent sequential increase in its revenue from operations to Rs 46,099 crore for the quarter ended March 31 (Q4), as the business witnessed a strong recovery in the period. Profit for the qua­rter, too, surged on the back of strong operational performance, it said on Friday. Yearly numbers are not comparable, RIL said, since the petro-retail business, which makes up 40 per cent of the firm’s retail revenues, has been demerged. Gross sa­les increased 24 per cent seq­uentially to Rs 47,064 crore.

Earnings before interest tax depreciation and amortisation (Ebitda) rose 17 per cent seq­uentially in Q4 to touch Rs 3,623 crore, while Ebitda margins declined 50 basis points to 8.8 per cent from the De­cember quarter. RIL does not report net profit numbers for its retail business in its consolidated re­sults. The retail numbers have been culled from its segment-wise results. The firm said al­m­ost all stores were operational during the quarter in a challenging environment, wi­th the company adding 826 new outlets in Q4 and 1,456 stores for FY21. Total store cou­nt now stands at 12,2711 outlets spread over 33.8 million sq.ft.

“This is amongst the highest offline expansions undertaken by any retailer in the Covid constrained context,” it said. The business, it added, now has a registered customer base of 156 million, with the firm strengthening its omni-channel and digital capa­bilities as digital adoption grows steadily.

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