Reliance Retail Q4 Pre-tax Profit up 41.5% to Rs 3,617 Crore; Revenue Rises 20% to Rs 41,296 Crore

New Delhi: Reliance Retail on Friday reported a 41.45 per cent improve in pre-tax revenue at Rs 3,617 crore for the fourth quarter ended March 31, 2021. The retail arm of Reliance Industries Ltd (RIL) had posted a pre-tax revenue or EBITDA (earnings earlier than curiosity, tax, depreciation and amortisation) of Rs 2,557 crore within the January-March interval a 12 months in the past. Also Read – Amazon Gets Notice From Delhi HC on Plea Against Future Group-Reliance Deal

Revenue from operations stood at Rs 41,296 crore, up 20.04 per cent from Rs 34,402 crore within the corresponding interval final fiscal. Also Read – US-Based KKR to Invest Rs 5,550 Crore in Reliance Retail Ventures For A 1.28% Stake

“4Q FY21 was a landmark quarter for the business with quarterly Revenue and EBITDA at an all- time high despite lesser than normative operating conditions,” RIL mentioned in a post-earnings assertion. Also Read – Mukesh Ambani’s Reliance Industries Offers to Sell $20 Billion Stake In Retail Arm to Amazon: Report

EBITDA development was “enabled by doubling of consumer Electronics profits, continued benefits from cost management initiatives” and a lift from funding earnings of Rs 534 crore, it added.

Net revenue for the quarter was Rs 2,247 crore, larger by 45 per cent year-on-year, the corporate mentioned.

Value of gross sales and repair by Reliance Retail in Q4 was additionally up 23.17 per cent to Rs 47,064 crore. It was Rs 38,211 crore within the corresponding January-March quarter of FY20.

For the fiscal 12 months ended March 2021, Reliance Retail”s EBITDA was marginally up 1.09 per cent to Rs 9,789 crore as in contrast to Rs 9,683 crore within the earlier 12 months.

Revenue from operations slipped 4.92 per cent to Rs 1,39,077 crore from Rs 1,46,272 crore in FY 2019-20.

RIL Chairman and Managing Director Mukesh D Ambani mentioned, “We have registered robust recovery in O2C and retail segment, and resilient growth in Digital Services business.”

“Our consumer businesses have proved to be a digital and physical lifeline for the nation in these challenging times,” he added.

During the quarter, Reliance Retail added 826 new shops, taking the full rely of operational bodily shops to 12,711 as on March 31, 2021.

“The business opened 826 stores during the quarter, higher than all previous quarters combined, reflecting the acceleration in the pace of new store expansion,” mentioned RIL.

The space of retail operations of Reliance Retail was additionally up 17.77 per cent to 33.8 million sq toes as in contrast to 28.7 million sq toes earlier.

Its e-commerce enterprise JioMart continued to scale up on portfolio, visitors and buyer base through the quarter, it added.

Over the gross sales efficiency, the corporate mentioned, “Grocery and Fashion & Lifestyle registered all-time high revenues and the strong growth in Consumer Electronics, was bolstered by higher Jio devices sales.”

Consumer electronics enterprise posted sturdy double-digit development, led by broad-based efficiency throughout shops, digital commerce and Jio gadgets.

Productivity gadgets, home equipment, TVs and ACs did significantly nicely and the efficiency for the quarter was bolstered by a step up in gadgets gross sales, led by the relaunch of Jio Phone.

“The own brands portfolio was further strengthened with the launch of 9 brands. In footwear, own brands which provide high quality, contemporary design and a strong value proposition, now contribute to 60 per cent of business,” it mentioned.

Grocery section hit “its all-time high revenues with a strong double-digit growth Q-o-Q”, because it continued to serve prospects amid the COVID-19 pandemic.

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