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Reliance Retail reports 45% YoY jump in Q4 profit at Rs 2,247 crore

Despite a challenging year, due to the government-enforced restrictions in the wake of the COVID-19 pandemic, the company opened 1,456 new stores and generated over 65,000 jobs for the year, it said in its earnings release.

April 30, 2021 / 11:00 PM IST
 
 
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Reliance Retail, the retail arm of Reliance Industries Ltd (RIL), on April 30 reported a 45 percent year-on-year (YoY) jump in its net profit at Rs 2,247 crore for the quarter ended March 31 (Q4FY21). The company’s revenue for the period stood at Rs 47,064 crore (up 23.2 percent) against Rs 38,211 crore logged in the previous year. The company’s full year profit grew 0.6 percent YoY to Rs 5,481 crore.

On a quarter-on-quarter (QoQ) basis, the company’s revenue gained 24.4 percent to Rs 47,064 crore.

“Reliance Retail delivers a resilient performance against the backdrop of an unprecedented and challenging operating environment, arising from the COVID pandemic situation that emerged at the start of the year,” the company said in a press release.

Store expansion