Reliance Retail net revenues jump 19%

Reliance Retail on Friday reported net revenues of Rs 33,566 crore on a consolidated basis in the three months ended June, an increase of about 19% compared to the year-ago period. Net revenues stood at Rs 28,197 crore in Q1FY21. “The focus on scaling up digital commerce and merchant partnerships helped partially alleviate the loss of business due to store closures. These streams contributed a sizable 20% of retail sales in the quarter,” the company said.

In Q1FY22, the company’s Ebitda increased to Rs 1,941 crore from Rs 1,079 crore in the year-ago period, registering a significant growth of 79.9%, driven by stepped up revenues in fashion & lifestyle, consumer electronics segments, judicious cost management and investment income of Rs 551 crore, the company said.