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Reliance Retail FY22 revenue inched close to Rs 2 lakh crore

Reliance Retail FY22 revenue inched close to Rs 2 lakh crore

At Rs 199,704 crore, RRL's gross revenue surged 26.7 per cent YoY, while net profit grew 28.7 per cent to Rs 7,055 crore; by adding 2,566 stores during FY22, it further consolidated leadership position with a record 15,196 stores.

While its revenue from operations (net of goods and services tax) stood at Rs 174,980 crore - 30.5 per cent higher over the previous year's at Rs 139,077 crore. While its revenue from operations (net of goods and services tax) stood at Rs 174,980 crore - 30.5 per cent higher over the previous year's at Rs 139,077 crore.

The country largest retailer - Reliance Retail Ltd. (RRL) - reported a 26.7 per cent jump in its gross revenue to end-FY2021-22 at close to Rs 2 lakh crore. The company, today, announced that it has posted a gross revenue of Rs 199,704 crore - up from Rs 157,629 crore in FY2020-21.

While its revenue from operations (net of goods and services tax) stood at Rs 174,980 crore - 30.5 per cent higher over the previous year's at Rs 139,077 crore.

The omni-channel retail company's net profit jumped 28.7 per cent during year to Rs 7,055 crore, while it's cash profit for year stood at Rs 9,848 crore - higher by 32.1 per cent year-on-year. Gross EBITDA (earnings before interest, tax, depreciation & amortisation) margin was at 6.2 per cent with a record Rs 12,381 crore of reported EBITDA for the year. Im FY2020-21, RRL had reported Rs 9,789 crore EBITDA with an EBITDA margin of 6.1 per cent.

"Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY2021-22. I am pleased to report strong growth in our Digital Services and Retail segments. Our relentless focus on customer satisfaction and service has led to higher engagement and increased footfalls, driving robust revenue and earnings figures across our consumer businesses", said Mukesh D. Ambani, Chairman & Managing Director of Reliance Industries Ltd. that own RRL.

According to the company management, in spite of COVID related restrictions impacting its operations during the year, RRL managed to grow its numbers by healthy double digits. "This is despite COVID restrictions in place during the year with 87% of the stores operational and 81% footfalls recorded at stores as compared to pre-COVID levels", it said in a statement.

In fact, it is for the first time that RRL's physical retail foot print crossed 15,000 stores. By adding 2,566 new stores during the year,, RRL's total store count stood at an unprecedented 15,196. While total retail area under operation grew to 41.6 million square-feet - up from 33.8 million sq.ft. at the end of FY2020-21. Further, it added a record 15,000 new jobs which took its total staff count to over 361,000 - making RRL one of the leading employers in the country.

During the year, "business continued to attract more and more customers across the country through its wide portfolio of stores and digital commerce platforms with registered customer base growing to 19.3 crore, up 24 per cent y-o-y", it said. 
For the quarter ended 31st March, RRL reported its best ever quarterly revenue - at Rs 58,017 crore (gross revenue) - 23.3 per cent higher y-o-y from Rs 47,064 crore. While its revenue from operations stood at Rs 50,834 crore or 23.1 per cent higher from Rs 41,296 crore it had reported in the corresponding quarter previous year. Its EBITDA for January-March quarter was at Rs 3,705 crore - 2.4 per cent over Rs 3,617 crore in the previous year.

According to the company, the headwinds posed by the COVID situation in January were offset by the robust growth in February and March as the business leveraged festive events and early setting of summer season. It opened 793 stores and added 3.1 million sq ft of warehousing and fulfilment space during the quarter. 

"The business more than doubled its daily orders on year on year across all its digital commerce platforms on the back of stronger product portfolio and attractive offers. Alongside in New Commerce, the business continued to partner with new merchants across geographies and consumption baskets. The merchant partner base grew three times over last year", it said.

During the quarter, RRL acquired Clovia, a leading women's intimate wear brand to bolster its lingerie brand portfolio. Further, it has acquired stake in Indian designer wear brands - AK-OK, Abraham & Thakore, Abu Jani Sandeep Khosla and formed a joint venture for a new brand with Rahul Mishra during the quarter. 

Also read: Reliance Jio Q4 results: Net profit up 24% to Rs 4,173 cr; ARPU grows 10.5%

Also read: Reliance Industries net profit rises 22.5% to Rs 16,203 cr in Q4, dividend announced

Published on: May 06, 2022, 9:24 PM IST
Posted by: Mohammad Haaris Beg, May 06, 2022, 9:20 PM IST