Reliance Retail, the retail arm of diversified conglomerate Reliance Industries
Reliance Retail noticed highest ever footfall at 21.9 crore throughout codecs with 966 new retailer openings, the corporate stated in an trade submitting.
Reliance Retail, the retail arm of diversified conglomerate Reliance Industries, clocked 12.9 p.c year-on-year (YoY) bounce in internet revenue to Rs 2,415 crore within the quarter ended March 2023.
Revenue stood at Rs 69,288 crore, rising 19.4 p.c YoY from Rs 58,019 crore within the corresponding quarter final 12 months, the corporate stated.
On the working entrance, EBITDA (earnings earlier than curiosity, taxes, depreciation and amortization) jumped 32.6 p.c YoY to Rs 4,925 crore. EBITDA margin got here in at 7.1 p.c, which signifies a 70 foundation level enchancment YoY however flat on a sequential foundation.
Reliance Retail noticed highest ever footfall at 21.9 crore throughout codecs with 966 new retailer openings, the corporate stated in an trade submitting.
Consumer electronics enterprise grew on the again of festive occasions, promotions and new launches, as per the press launch. The enterprise additionally noticed best-ever Republic Day interval gross sales efficiency with income progress of 35 p.c YoY.
Fashion & Lifestyle section’s income grew of 19 p.c YoY led by marriage ceremony season and festivals, and jewellery enterprise clocked a income progress of 28 p.c YoY.
“Reliance Retail continues on the trail of registering trade main progress 12 months after 12 months at a scale unmatched in India… Our focus on customer-centricity backed by investments in expertise, innovation and new enterprise segments have helped us create operational excellence and steer the transformation of India’s retail sector,” Isha Ambani, executive director, Reliance Retail Ventures said.
In FY23, the conglomerate’s retail business made great strides. It launched a made-in-India FMCG brand named Independence and brought back the iconic beverage brand Campa.
JioMart delivered its best quarter with robust growth across categories, growing its catalogue by 34 percent sequentially. “Trends, Hamleys and Urban Ladder are now live on platform and JioMart is seeing a sustained uptick in non-grocery category contribution,” the corporate knowledgeable.
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