Reliance Retail's FY24 revenue surpasses Rs 3 trillion mark
This growth was driven by consumer electronics and fashion & lifestyle businesses, according to RIL's earnings statement
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New Delhi: Reliance Retail Venture Ltd (RRVL), the retail arm of Reliance Industries, reported a 17.8% increase in its annual revenue to Rs 3.06 lakh crore in FY24.
In the fourth quarter, its consolidated gross revenue was Rs 76,627 crore, up 10.62% annually, with a net profit of Rs 2,698 crore, an 11.7% rise.
This growth was driven by consumer electronics and fashion & lifestyle businesses, according to RIL's earnings statement. EBITDA in the March quarter was up 18.5% to Rs 5,823 crore.
Reliance Retail added 796 stores, totalling 18,836 by March 2024, with 20.6% more retail area, reaching 79.1 million square feet.
Footfalls grew 24.2% to over 272 million, totalling 1,063 million for FY24. Its registered consumer base reached 304 million with 311 million transactions in Q4.
Across segments, consumer electronics, fashion & lifestyle, and grocery businesses sustained growth momentum.
JioMart Digital expanded its merchant partner base by 20% Y-o-Y. The grocery business expanded its portfolio with premium products.
JioMart's seller base rose 94%, and live selection grew 32% Y-o-Y.
Reliance Retail consumer brands grew 3x+ Y-o-Y in general trade.
RRVL Executive Director Isha Ambani stated the company's commitment to customer centricity and confidence in India's consumption story.
Reliance Retail raised Rs 17,814 crore in FY24, including Rs 2,500 crore from RIL in the quarter.
