Reliance Retail Q4 revenue up 51.6% YoY; company now biggest Indian retailer with 10,000+ stores

Reliance Retail’s revenue for Q4 FY19 grew 51.6 percent to Rs 36,663 crore as against Rs 24,183 crore in the corresponding period of the previous year.

"The revenue and profits recorded are highest ever by any retailer in India," the company said in a release.

The profit before depreciation interest and taxes (PBDIT) for the retail business grew 77.1 percent to Rs 1,923 crore as against Rs 1,086 crore in the corresponding period of the previous year.

The retail arm of Reliance Industries added 510 stores during Q4 FY19 and 2,829 stores in FY19, the company said in a release. The company became the first Indian retailer to cross the 10,000+ store milestone, currently operating a total of 10,415 stores covering over 22 million sq. ft. of retail space.

As of March 31, Reliance Retail also operates more than 8,000 Digital and Jio Stores put together.

Also Read: RIL Q4 profit up 9.8% at Rs 10,362 crore; Jio FY19 profit jumps 300% to Rs 2,964 crore

The company also operates 516 petro retail outlets as on March 31, 2019.

During the quarter, Reliance Retail acquired the ‘John Players’ brand from ITC. John Players is a mid-segment menswear brand with a national presence, which the company hopes will further consolidate Reliance Retail’s position in the fashion and lifestyle consumption basket.

Also read: Another acquisition for Reliance Retail on the cards?

Reliance Industries, the parent company of Reliance Retail, saw operating profit before other income and depreciation increased by 12.7 percent to Rs 20,832 crore from Rs 18,477 crore in the corresponding period of the previous year, primarily backed by strong operating performance by its retail division, its digital services and petrochemicals division among others.