Reliance Retail now biggest Indian retailer, FY19 revenue jumps 89%

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Updated: April 19, 2019 7:32:49 AM

Reliance Retail on Thursday reported an 88.7% jump in revenues to Rs 1,30,566 crore for 2018-19, while the PBIT (profit before interest) soared 145.2% to Rs 6,201 crore. In the three months ended March, the retailer posted a 51.6% year-on-year increase in revenues to Rs 36,663 crore.

Reliance Retail FY19 revenue jumps 89%, company now biggest Indian retailer with 10,000+ storesReliance Retail FY19 revenue jumps 89%, company now biggest Indian retailer with 10,000+ stores

Reliance Retail on Thursday reported an 88.7% jump in revenues to Rs 1,30,566 crore for 2018-19, while the PBIT (profit before interest) soared 145.2% to Rs 6,201 crore. In the three months ended March, the retailer posted a 51.6% year-on-year increase in revenues to Rs 36,663 crore.

Earnings before interest and tax (Ebit) in Q4FY19 showed an increase of 81% y-o-y, up from `951 crore. The EBIT margin hit 4.7%, up by 80 basis points y-o-y, a release by the company said. The retailer reported a jump of 77.1% in the profit before depreciation, interest, and taxes (PBDIT) to `1,923 crore in Q4.

With the largest organised F&G (food and grocery) and fashion business in India, Reliance Retail’s network of stores has increased to 10,415 across more than 6,600 towns and cities, covering an area of over 22 million sq ft of retail space. The company added 510 stores during Q4. An aggregate of 32 stores of Reliance Fresh, Reliance Smart and Reliance Market was added, which took the total count to 612 stores in the grocery consumption basket.

Reliance Trends accelerated its growth, with 119 new stores being launched in Q4 across more than 350 cities. During the year, Trends also introduced footwear, jewellry and cosmetics category in the fashion and lifestyle business. The company also opened 76 new digital stores, along with 2,219 jio stores, and together operates more than 8,000 digital and jio stores.

Under the joint venture with Marks and Spencer, the retailer launched seven new stores in Q4.

The ajio platform doubled the product catalogue to offer over 1,30,000 items and has a strong base of loyal customers as two-thirds of the revenue from the site is earned through repeat customers.

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