Reliance Industries’ retail arm Reliance Retail reported a net profit of Rs 2,415 crore for the quarter ended March, which is higher by 13%, compared with Rs 2,139 crore in the corresponding quarter of last year. For the full year, Reliance retail has clocked a net profit of Rs 9,181 crore.
Revenue from operations for the fourth quarter rose 21% to Rs 61,559 crore as against Rs 50,834 crore in the same period last year. The revenue growth was led by robust momentum in grocery, consumer electronics and fashion and lifestyle.
“Retail business registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall,” Mukesh Ambani said.
“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,” he said.
The retail business of Reliance Industries has seen the highest ever footfall for the quarter at 219 million across formats, with 966 new store openings.
“Reliance Retail continues on the path of registering industry leading growth year after year at a scale unmatched in India. At Reliance Retail we remain committed to delivering exceptional value to our customers while driving sustainable growth for our business and various stakeholders in the ecosystem,” said Isha Ambani, Executive Director, Reliance Retail.
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