Reliance retail on friday reported a 6.2 per cent Year-on-year (YoY) rise in its profit at Rs 2,400 crore compared to Rs 2,259 crore in the same quarter last year.
Its revenue from operations grew by 18.6 per cent YoY to Rs 60,096 crore. In the previous year it had posted a revenue of Rs 50,654 crore in the corresponding quarter.
The Earnings before interest, taxes, and amortisation (EBITA) of the company grew by 24.9 per cent YoY to Rs 4,773 crore.
The Pharma division recorded a robust growth of 93 per cent YoY, followed by the grocery division which grew by 65 per cent YoY.
Grocery Digital Commerce business saw steady revenue growth driven by festive demand and expansion of MilkBasket in new cities, it said.
Grocery New Commerce revenue growth driven by new merchant onboarding and efficient supply chain which resulted in superior delivery capabilities for merchant partners, it added.
Among the Fashion & Lifestyle, the lingerie business saw a revenue growth of 62 per cent Y-o-Y. The jewellery and premium brands business reported 38 per cent YoY growth.
Company’s Consumer Electronics division saw 45 per cent revenue growth Y-o-Y driven by higher footfalls and bill values during the quarter.
Isha M Ambani, Executive Director, Reliance Retail Ventures Limited, said “Our performance during the quarter demonstrates the underlying strengths and efficiencies of our business model that enable us to serve our customers with excellence at all times. We remain steadfast in offering the best shopping experience across all our stores and digital platforms to deepen our bond with our customers and vendor partners.”
The business saw double digit growth across categories of Phones, TVs, and Appliances.
The business expanded its physical store network with 789 new store openings totaling to an area of 6 Million Sq. ft.