Reliance Retail Q4 pre-tax profit rises to Rs 3,705 crore

Reliance Retail Q4 pre-tax profit rises to Rs 3,705 crore
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New Delhi, May 6: Reliance Retail Ltd on Friday reported a 2.43 per cent increase in pre-tax profit to Rs 3,705 crore for the fourth quarter ended March 2022.

The company's gross revenue stood at around Rs 1,99,704crore in the last fiscal.

The retail arm of Reliance Industries Ltd (RIL) had posted a pre-tax profit or EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of Rs 3,617 crore in the 2021 March quarter.

Its revenue from operations of the organised retail segment stood at Rs 50,834 crore in the latest March quarter, up 23.09 per cent from Rs 41,296 crore in the year-ago period.

Gross revenue, which includes the value of sales and services, was up 23.27 per cent to Rs 58,017 crore in the three months ended March 2022. It was at Rs 47,064 crore in the corresponding quarter.

"Reliance Retail delivered its best-ever quarterly revenues even surpassing the festive quarter performance despite the challenges posed by the spread of Omicron wave and coming out from the festive quarter," RIL said in a statement.

"EBITDA for the quarter recorded at Rs 3,705 crore, up 2.4 per cent Y-o-Y. However, EBITDA before investment income grew 16.3 per cent Y-o-Y to Rs 3,584 crore led by robust performance in Fashion & Lifestyle and Grocery consumption baskets," the statement said.

During the January-March quarter, Reliance Retail continued to add more stores and invest in network and infrastructure expansion.

"The business continued to bolster its store network and strengthen its supply chain capabilities. It opened 793 stores and added 3.1 million sqft of warehousing and fulfilment space during the quarter," it said.

As of March 31, 2022, Reliance Retail was operating on 41.6 million sq ft.

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