Reliance Retail Ventures (RRVL), the holding company of Reliance Retail, on Monday reported a consolidated net profit of Rs 2,698 crore for Q4FY24, which was up 11.7% versus the year-ago period. Sequentially, however, net profit was down 14.8% as Q3 was a festive quarter and therefore strong from a topline and bottomline perspective, analysts tracking the company said.
In a post-results earnings call, Dinesh Taluja, chief financial officer, Reliance Retail, said Q4 performance was driven by consumer electronics, grocery and fashion and lifestyle. Three fashion and lifestyle brands, Taluja said, had crossed Rs 2,000 crore in annual sales. JioMart saw its seller base jump 94% year-on-year in Q4, he added. And consumer brands, led by Campa and Independence brands, grew 3x versus last year in Q4.
The annual net profit of RRVL for FY24 crossed the Rs 10,000-crore-mark, Taluja said, while gross revenue crossed the Rs 3-trillion-mark, a growth of 17.8% versus the previous year. Revenue from operations for FY24 touched Rs 2.73 trillion, up from Rs 2.30 trillion reported in FY23. Ebitda from operations touched Rs 22,196 crore, a growth of 26.04% versus the previous year.
Revenue from operations for the March quarter stood at Rs 67,610 crore, up 9.8% year-on-year (y-o-y) as against Rs 61,559 crore posted in the same quarter last year. Sequentially, it was down 9.1% from Rs 74,373 crore reported in Q3.
The earnings before interest, tax, depreciation and amortisation (Ebitda) from operations stood at Rs 5,632 crore in Q4, up 18.1% y-o-y. Sequentially, Ebitda was down 7.1% from Rs 6,061 crore in Q3. Ebitda margins in Q4 at 8.33% were up 18 basis points sequentially (Q3 Ebitda margins stood at 8.15%) and up 58 basis points versus the year-ago period (7.75% in Q4FY23).
The total footfall in the March quarter stood at 272 million across formats. The company opened 562 new stores. On an annual basis, the business grew its store footprint across consumption baskets, opening 1,840 stores with a gross area addition of 15.6 million sq ft and the total store count stood at 18,836 with total area of 79.1 million sq ft.
The registered customer base stood at 304 million at the end of FY24, up 22.1% versus last year, while the total transactions recorded in FY24 stood at 1,260 million, up 22% y-o-y. Reliance Retail also undertook an equity fund raise of Rs 17,814 crore in FY24, including Rs 2,500 crore infusion by RIL during the March quarter.