Reliance Retail Ventures reports robust growth with quarterly revenue surging to Rs 77,148cr
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, has marked a significant milestone with an 18.8% year-over-year increase in its quarterly revenue, reaching ₹77,148 crore. This robust growth underscores the company’s expanding dominance in the retail sector and its resilient business model amidst a dynamic market environment.
EBITDA and Profit Margins Climb Notably
Further strengthening its financial health, RRVL reported a substantial 32.2% year-over-year rise in quarterly EBITDA at ₹5,820 crore. This impressive growth in EBITDA, alongside a notable increase in net profit by 21.0% compared to the same period last year, reflects the company’s operational efficiency and strategic focus on profitability.
Operational Highlights and Expansion
RRVL’s operational update reveals the opening of 471 new stores, taking the total count to 18,650 stores. This expansion represents a 12.2% increase in the number of stores compared to the previous year. The quarter also witnessed a significant 40.5% increase in store footfalls, amounting to over 260 million across various formats, illustrating the brand’s growing appeal and customer reach.
Strategic Investments and Market Confidence
The quarter was also notable for RRVL’s successful equity fundraise of ₹15,314 crore from globally reputed investors, affirming the market’s confidence in the company’s vision and execution capabilities. Additionally, the acquisition of the kids and maternity wear brand Ed-a-Mamma, along with the majority ownership of Superdry IP for India, Sri Lanka, and Bangladesh, indicates RRVL’s commitment to diversifying its portfolio and enhancing its market presence.
Executive Director’s Optimistic Outlook
Isha M. Ambani, Executive Director of Reliance Retail Ventures Limited, expressed delight at the company’s record-breaking performance. She stated, “I am delighted to report that we have delivered yet another quarter of stellar performance and achieved an all-time high across financial metrics. The performance is a testament to our customer-centric approach that defines Reliance Retail, and we look forward to serving our customers this festive season with renewed optimism and enthusiasm.”
RRVL’s exemplary performance in the quarter highlights its leadership and innovation in the retail industry. As the company continues to expand its footprint and diversify its offerings, it remains well-positioned to maintain its trajectory of growth and market dominance.