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Reliance Retail, the retail arm of oil-to-telecom conglomerate Reliance Industries, reported a 23.3 percent year-on-year (YoY) jump in its gross revenue in the fourth-quarter (Q4) at Rs 58,017 crore as opposed to Rs 47,064 crore reported in the year-ago period. The company's net profit for the period, however, dropped by 4.8 percent YoY to Rs 2,139 crore as compared to Rs 2,247 crore reported in Q4 of FY21.The company’s EBITDA for the quarter stood at Rs 3,705 crore, up by 2.4 percent.
Reliance Retail opened 793 stores during the quarter under its various brands and currently has 15,196 physical stores operational. The company also added 3.1 million square feet of warehousing and fulfillment 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 company said in a press statement.
Reliance Retail acquired lingerie brand Clovia during the quarter and also acquired stake in Indian designer wear brands - AK-OK, Abraham & Thakore, Abu Jani Sandeep Khosla and formed a JV for a new brand with Rahul Mishra during the quarter.
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