Reliance Retail revenue increases 7.4% year-over-year
Reliance Retail has reported a 7.4% year-on-year increase in consolidated gross revenue, reaching $9.38bn. The company’s top line growth was driven by double-digit gains in grocery, fashion, and consumer electronics.
The retailer’s profit after tax fell 14.2% year-over-year, while EBITDA from operations declined 1.8% year-over-year. The company expanded its footprint with 252 new stores, taking its total network to 20,169 outlets.
Registered customers grew 10.6% year-over-year to 396 million, with transaction volumes rising 46.0% year-over-year to 568 million. Unique customers served across formats increased 8.5% year-over-year.
The company’s fashion and lifestyle segment posted like-for-like growth of 4% year-over-year, with own brands’ share up 380 basis points. Grocery like-for-like growth reached 7% year-over-year, led by staples, dairy, and frozen & bakery.