22 Jan , 2022 By : monika singh
NEW DELHI: Reliance Retail on Friday said its net profits for the quarter ending December 2021 rose 23.4 per cent to Rs 2259 crore compared to Rs 1,831 crore in the corresponding quarter last year.
The revenue from operations for the quarter increased 53.4 per cent year-on-year (YoY) to Rs 50,654 crore from Rs 33,018 crore in the same quarter last year.
Ebitda from operations rose to Rs 3,522 crore, up 52.3 per cent. Ebitda margins stood at 7 per cent, flat YoY and up 90 bps, sequentially.
“Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.
The company said it delivered a landmark quarter posting all time high revenue and Ebitda as operating environment returned to normalcy. All time high revenues were recorded across all consumption baskets driven by highest ever store sales and sustained growth momentum in digital and new commerce.
Consumer electronics and apparel and footwear doubled their business on the back of strong festive sales, while grocery sustained its consistent and strong double-digit growth momentum, Reliance Retail said in a statement.
Reliance Retail continued to invest in network and infrastructure expansion. During the quarter, business added 837 stores taking the total count to 14,412 stores and 2.3 million sq ft. of warehousing space to bolster its service capabilities.
According to the press release, AJIO—its fashion ecommerce arm—continued its growth momentum and posted yet another highest ever revenue in a quarter. AJIO Business recorded new highs with three times growth in revenue. The business grew its catalogue two times YoY by adding national and regional brands to its offerings, it said.
In the luxury/premium brands business, revenue grew two times over last year with resumption of mall stores and pick up in footfalls. Zivame delivered record revenue in the quarter with focus on catalogue expansion and new store openings. It reached a milestone of 100 stores with nearly one-fourth of the stores added during the quarter. Urban Ladder grew two times over last year. Daily orders on Milkbasket grew by 1.5 times.
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