Reliance Retail Q4: Growth Matches DMART/TTAN, Driven by Retail Expansion
Highlights from Reliance Retail’s fourth quarter: Growth is broadly in line with DMART/TTAN, aided by strong retail expansion.
Revenues in the fourth quarter increased by 19% to Rs693 billion, driven by a 19% increase in the number of stores and a 58% increase in retail space. Growth is comparable to the 20%/25% reported by DMART/TTAN.
Net store additions remained healthy at 815 stores, consistent with previous quarters, bringing the total store count to 18,040. The retail space addition was 6 million square feet, bringing the total to 65.6 million square feet (up 58% year on year).
In Q4, EBITDA (ex-investment income) increased 33% faster than revenues to Rs47.7 billion. EBITDA margins increased by 60 basis points to 7.7%, owing to a better revenue mix (more private labels) and supply-chain efficiencies.
Net profit increased by 13% to Rs24 billion, owing to higher investment income.
footfalls Around the beginning of the holiday season According to its parent firm Reliance Industries Ltd.’s exchange statement, the net profit of India’s largest retailer, controlled by billionaire Mukesh Ambani, increased 11.8% over the previous quarter to Rs 2,305 crore in the three months ended September, FY2023
Reliance Retail Q2-Results Revenue Jumps 11.8% as Footfalls Rebound
The fashion and lifestyle industry expanded by 19%. YoY growth was led by 35% growth in premium brands, 28% growth in jewellery (compared to TTAN’s 23% growth), and 88% growth in the lingerie business. AJIO reported another strong quarter, and assortment expansion continued, with catalogue size surpassing 1.3 million, establishing it as a one-stop shop for all fashion needs.
The consumer electronics industry expanded as a result of holiday events, promotions, and new product launches. The mix improved with a doubling of own/licensed brands and a threefold increase in merchant base (new-commerce).
JioMart had its best quarter yet, with the platform expanding its catalogue by 34% year on year across categories (Trends, Hamleys, and Urban Ladder are now live on the platform). JioMart increased its seller base by 56% year on year.
On December 15, Reliance Consumer Products Limited, the FMCG arm of Reliance Retail Ventures Limited, launched Independence, its indigenous made-in-India consumer packaged goods brand, in Gujarat.
Reliance Consumer Products launches FMCG brand in Gujarat
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