Reliance Industries Ltd (RIL) announced its April-June quarter results for the current fiscal today, a day after the demerger of its financial services arm. The oil-to retail empire's net profit declined 10.8 per cent to ₹16,011 crore, while revenue from operations dell 4,69 per cent to ₹2,31,132 crore. The oil-to-chemicals (O2C) arm's revenue declined 17.7 per cent to ₹1,33,031 crore on sharp reduction in global crude oil prices. The weakness in O2C biz offset the growth reported by retail and telecom arms - Reliance Retail and Reliance Jio in the quarter-under-review.
"The sustained growth across consumption baskets has further consolidated our position as a market leader. We continue to innovate and invest in our stores and digital platforms to make shopping more engaging for our customers." said Isha M Ambani, Executive Director, Reliance Retail Ventures Limited.
Reliance Retail received a record 249 million footfalls across formats and geographies in the quarter, a growth of 42 per cent YoY. Reliance Retail expanded its physical store network with 555 new store openings, taking the total store count at the end of the quarter to 18,446 and operating area to 70.6 m sft. The registered customer base grew 28 per cent YoY to reach 267 million.
Grocery business delivered another quarter of record performance, up 59 per cent Y-o-Y, led by Smart and Smart Bazaar formats. Non-food continues to grow rapidly with improving share in overall business. The business capitalized on the summer season with an uptick in several related categories such as ice-creams, cold drinks, and seasonal fruits like mangoes.
Reliance Retail reported a record revenue and EBITDA in the June quarter. The retail arm's net profit rose 18.8 per cent to ₹2,448 crore, compared to ₹2,061 crore in the corresponding period last year. Gross revenue from operations rose 19 per cent to ₹69,962 crore, compared to ₹69,948 crore, compared to ₹58,554 crore in the year-ago period. The growth was led by growth in Grocery, Consumer Electronics (excluding Devices) and Fashion & Lifestyle.
(With inputs from agencies)