Reliance Retail FY22 net profit grows 7.6% to ₹4,935 crore
Reliance NSE 0.80% diligence’ flagship retail business reality, Reliance Retail Ltd NSE-1.44%, has posted a net profit of nearly ₹5,000 crore in financial 2021- 22, as per rearmost nonsupervisory exposures. Net profit grew 7.6% to ₹4,934.65 crore in the financial time ended March 31, 2022. Net profit from operations (after abating the GST recovered) rose 29% to ₹ 1,69,397.35 crore.
The company is the country’s largest retailer. Its net profit was nearly three times the concerted profit of the nearest five listed retailers Avenue Supermarts NSE1.34% which owns the DMart chain, Tata- possessed Trent NSE 1.48%, Shoppers Stop NSE 1.46%, Spencer’s Retail and V- Mart Retail. profit was further than four times the combined profit of the rivals.
Reliance Ind owns the company through Reliance Retail gambles Ltd, which has a 99.93% stake in it. Reliance diligence NSE 0.80% announces the consolidated retail business profit during its daily earnings. As per that, Reliance’s consolidated gross retail profit in FY22 had touched ₹ 1,99,704 crore while net profit was ₹7,055 crore. These include the performance of Reliance Retail and other businesses and realities like Reliance Brands, common gambles similar as with Marks and Spencer, retail logistics and energy merchandising.
The performance of Reliance Retail indicates a recovery in business in FY22 from the first time of the epidemic. In FY21, its gross profit from operations had grown 2% to ₹ 1,49,925 crore, while net profit had declined by 17% to ₹4,587 crore. The net profit from operations was ₹ crore.
Reliance Ind in its rearmost periodic report for FY22 said Reliance Retail had invested ₹30,000 crore in 2021- 22 to expand its store presence, on accessions and strategic hookups. It said the unit added over 2,500 stores and11.1 million square bases of warehousing space during the time.
About Reliance Retail
Reliance Retail is the retail initiative of Reliance Industries Limited and is central to the group’s consumer facing businesses. Reliance Retail has been at the forefront of bringing about Organized Retail revolution in India. Reliance Retail’s operating model unleashes the aspirational energy of the new, resurgent India. Reliance Retail’s guiding philosophy rests on the tenets of enabling inclusion, growth and building sustainable societal value for millions of Indians.
In a short period, it has forged strong and enduring bonds with millions of consumers by providing them unlimited choice, outstanding value proposition, superior quality and unmatched shopping experience across all its stores. Reliance Retail’s growth over the years has triggered a large socio-economic transformation on an extraordinary scale in India.
Reliance Retail has been ranked as the fastest growing retailer in the world. It is ranked 56th in the list of Top Global Retailers and is the only Indian Retailer to feature in the Top 100. It is the largest and the most profitable retailer in India with the widest reach.
It has nearly 200 million registered customers buying across all its formats. It recorded more than 500 million footfalls across all its stores in FY22, a scale unmatched by any other retailer in India. With over 120,000 transactions per hour, Reliance Retail operates at a scale unparalleled in the Indian retail industry and continues to enrich the quality of lives of millions of Indians every day.
Reliance Retail has adopted a multi-prong strategy and operates a wide array of store formats which cater to planned shopping needs as well as daily or occasional needs of the customers across major consumption baskets of Grocery, Consumer Electronics and Fashion & Lifestyle.
- Grocery consumption basket: Reliance Retail operates Reliance Fresh Signature, SMART, Smart Point, Freshpick, Shree Kannan Departmental and Jayasurya stores focused on food, fresh produce, bakery, dairy products, home and personal care products, as well as general merchandise items.
- Consumer Electronics consumption basket: Reliance Retail operates Reliance Digital and MyJio Store formats offering a wide range of consumer electronics, home appliances, computing and mobility products, latest gadgets and accessories. These stores are backed by ResQ, a full-fledged service organisation and India’s only ISO 9001 certified electronics service brand.
- Fashion and Lifestyle consumption basket: Reliance Retail operates a portfolio of formats that serves customers across value, mid, premium and luxury segments. Reliance Retail operates Trends, Trends Woman, Trends Man, Trends Footwear, Avantra by Trends, Reliance Jewels, Hamleys formats and a portfolio of more than 50 marquee international brands such as Armani, Burberry, Diesel, GAS, Marks & Spencer, Superdry, Brooks Brothers, Steve Madden and more.