Reliance Retail reported a 11.7 per cent growth in net profits for the fourth quarter ended March 31, 2024, to ₹2,698 crore compared with ₹2,415 crore in the same period last year. The profit is lower than the third quarter, when the company reported a profit of ₹3,165 crore.

Mukesh Ambani, Chairman, RIL said, “Reliance Retail continued to provide customers endless choices through its robust omni-channel presence. We continue to offer product differentiation and superior offline experience through stores remodelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space.”

Revenue up

Revenue from operations grew 9.8 per cent to ₹67,610 crore (₹61,559 crore). The business recorded gross revenue of ₹3-lakh crore for the year FY24, a growth of 17.8 per cent over last year. The business grew its store footprint across consumption baskets, opening 1,840 stores with gross area addition of 15.6 million sq ft. Total store count now stands at 18,836 with total area of 79.1 million sq ft.

The registered customer base was at 304 million at the end of the year, up 22.2 per cent year on year, while the total transactions recorded were at 1.26 billion, up 22 per cent y-o-y. 

Isha M. Ambani, Executive Director, Reliance Retail Ventures, said “Reliance Retail continues to deliver steady performance, led by growth across consumption baskets. We continue to invest and innovate across formats and products to improve our customer value proposition and serve evolving consumer needs. Robust expansion and growth of our retail business signifies our commitment to customer centricity and confidence in India’s consumption story”.

Related Topics
comment COMMENT NOW