RRVL is retail arm of Reliance Industries. Credit: Arunvrparavur.

Reliance Retail has reported that its net profit increased by 0.6% to $750m (Rs54.81bn) for the fiscal year 2021 (FY21).

The company’s revenue for the year dropped by 3.3% to $21.6bn (Rs1576.29bn) over last year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In total, revenues grew at 2% year on year following adjustment of the transfer out impact of the Petro retailing business. This is despite store closures, reduction in footfall and operational disruptions through the year.

The retail arm of Reliance Industries Limited (RIL) posted EBITDA of $1.3bn (Rs97.89bn), up by 1.1% compared to prior year, and a cash profit of $1.0bn (Rs74.57bn).

The high profit was supported by the steady revenue streams rebound, careful cost management initiatives and higher investment income.

In the year, the retailer operated a total of 12,711 physical stores and opened 1,456 shops.

During the fourth quarter, the company’s revenue was $6.4bn (Rs 470.64bn), net profit was up 22.8% to $307m (Rs22.47bn) and EBITDA was at a high of 17.2% to $495m (Rs36.17bn).

Cash profit of the company for the quarter was $379m (Rs27.73bn), a high by 11.7%.

RIL chairman and managing director Mukesh Ambani said: “Reliance Retail ensured safe supplies of essentials goods and services to customer homes. And while Covid-19 has disrupted livelihoods, we have added nearly 75,000 jobs to the economy, while ensuring the health and safety of our employees and their families.”

The retail arm has a registered customer base of 156 million, a 25% year on year growth.

It continued to focus on bolstering its omni-channel and digital platform capabilities during the year.

Last month, Reliance Retail Ventures extended the deadline of acquisition of Future Retail by six months.