Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo

Fully committed to investment plans, initiatives in consumer business: Mukesh Ambani

"Our consumer businesses further strengthened their leadership positions and recorded robust growth on all operating and financial parameters during the year," he said.

April 30, 2020 / 08:55 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

RIL Chairman and Managing Director Mukesh Ambani on April 30 said the company is "fully committed" to its investment plans in the consumer business and new initiatives.

"Our consumer businesses further strengthened their leadership positions and recorded robust growth on all operating and financial parameters during the year. Both Retail and Jio, continue to work towards providing superior products and services to Indian consumers. We are fully committed on our investment plans in our consumer businesses and new initiatives," he said.

Also Read: RIL Q4: Healthy growth in Jio and retail, talks with Aramco on track; 7 key takeaways

Reliance Retail- ranked as the fastest-growing retail company in the world  (Global Powers of Retailing 2020, a Deloitte report) - now operates 11,784 stores covering 28.7 million square feet with over 1,500 stores opened in the year and a record 30 percent retail space added.

Footfalls at 640 million, were up 17 percent YoY with 125 million registered and loyal customer base, up 40 percent YoY.

Close

For Q4FY20, the revenue of the segment grew by 4.2 percent YoY to Rs 38,211 crore while EBITDA for Q4FY20 grew by 32.9 percent YoY to Rs 2,556 crore.

Segment's revenues for FY20 grew by 24.8 percent YoY to Rs 162,936 crore. EBITDA for FY20 grew by 56 percent YoY to Rs 9,654 crore.

Also Read | Received 'strong interest' from global investors for a Facebook-type deal for Jio Platforms: RIL

Grocery category witnessed strong growth led by SMART and Reliance Fresh, driven by store expansion and like for like growth in existing stores.

During the month of March, grocery stores recorded their highest-ever sales figures, surpassing the Diwali month performance despite logistical challenges.

Through its Jio Mart Pilot initiative, Reliance Retail supported its partner kirana stores by offering services and supplies during the lockdown period.

"Daily orders grew by 4x during the lockdown period as kirana partners focused on serving their neighborhoods during the time of crises," according to the BSE filing.

Reliance Retail expanded its store footprint, both geographically and across the consumption baskets to tap the market opportunity in the smaller towns.

The company’s non-grocery retail business, however, was impacted by nation-wide lockdown. During the review period, Fashion and Lifestyle category delivered a ‘credible’ performance despite shutdown.

Retail segment operated most of its food and grocery formats in consonance with local directives. Retail business leveraged its network of collection centers and actively engaged with key suppliers to ensure priority supplies and assured quantity of essentials.

Overall, the country's largest listed company by market capitalisation Reliance Industries, on April 30 reported a consolidated profit of Rs 6,348 crore during January-March quarter 2020.

The consolidated profit in the previous quarter was Rs 11,640 crore and in the corresponding quarter last year, it was Rs 10,362 crore.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
Moneycontrol News
first published: Apr 30, 2020 08:55 pm

stay updated

Get Daily News on your Browser
Sections