Reliance Retail on Friday reported net revenues of Rs 33,018 crore on a consolidated basis in the 3 months ended December, a decline of almost 19% compared to the year-ago period. The numbers are not comparable due to the transfer out of the fuel retailing organization to the RIL-BP JV.
Net revenues stood at Rs 40,660 crore in Q3FY20, the business stated in a presentation.
Overall income was also impacted by the choice to convert Reliance Market retailers to fulfilment centers to allow city expansion of new commerce.
In Q3FY21, the company’s EBITDA elevated to Rs 3,087 crore from Rs 2,747 crore in Q3FY20, registering a development of 12%. EBITDA in the October-December period rose by a sharp 53.9% on a quarterly basis. This was led by the close to doubling of style and life-style earnings, continued positive aspects from price management initiatives and a increase from larger investment earnings of Rs 775 crore. EBITDA margin rose to 9.3% in Q3FY21 from 6.8% in Q3FY20.
Profit immediately after tax grew by a marginal 4% year-on-year to Rs 1,830 crore through the quarter.
The business stated that the Consumer Electronics retailers (excluding Jio devices) maintained the pace of income development on the back of a “market beating festive season” and powerful overall performance in tier two and 3 cities. Grocery organization also sustained double-digit development, the firm claimed.
Fashion and Lifestyle organization surpassed pre-Covid levels through the quarter. Stores witnessed stepped up conversions and elevated typical bill values more than final year driven by new collections across occasion put on and winter-put on, the business stated. AJIO saw a close to 5 instances development in orders more than the preceding year.
Reliance Retail that operates multi-format retailers ranging from neighbourhood to supermarket and manages a clutch of brands opened 327 new retailers through the quarter.
The total shop count of the business stands at 12,201 retailers spread more than 31.2 million sq.ft of retail space.
“Digital commerce momentum continued with orders up 12 times year-on-year alongside growth in portfolio, traffic and customer base across platforms,” the firm stated.
The business stated that it added more than 50,000 new jobs considering the fact that the starting of the pandemic.