Reliance Retail FY2022 net profit rises 7.6% to Rs 4,935 crore

Reliance Retail has posted a net profit of almost Rs. 5,000 crore in fiscal 2021-22, as per latest regulatory disclosures. Net profit grew 7.6% to Rs. 4,934.65 crore in the fiscal year ended March 31, 2022. Net revenue from operations (after deducting the GST recovered) rose 29% to 1,69,397.35

The company is the country’s largest retailer. Its net profit was nearly three times the combined profit of the nearest five listed retailers: Avenue Supermarts which owns the DMart chain, Tata-owned Trent, Shoppers Stop. Spencer’s Retail and V-Mart Retail. Revenue was more than four times the combined revenue of the rivals.

Reliance Ind owns the company through Reliance Retail Ventures Ltd, which has a 99.93% stake in it.

Reliance Retail announces the consolidated retail business revenue during its quarterly earnings. As per that, Reliance’s consolidated gross retail revenue in FY22 had touched Rs. 1,99,704 crore while net profit was *7,055 crore. These include the performance of Reliance Retail and other businesses and entities like Reliance Brands, joint ventures such as with Marks and Spencer, retail logistics and fuel retailing.

The performance of Reliance Retail indicates a recovery in business in FY22 from the first year of the pandemic. In FY21, its gross revenue from operations had grown 2% to 1,49,925 crore, while net profit had declined by 17% to 4,587 crore. The net revenue from operations was 131,687.81 crore. Reliance Ind in its latest annual report for FY22 said Reliance Retail had invested ₹30,000 crore in 2021-22 to expand its store presence, on acquisitions and strategic partnerships. It said the unit added over 2,500 stores and 11.1 million square feet of warehousing space during the year.

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