Reliance Retail Q4 pre-tax profit scales up Rs 3,705 crore

Reliance Retail Ltd on Friday recorded a 2.43 percent increase in pre-tax profit to Rs 3,705 crore for the fourth quarter ending March 202,. In the previous fiscal year, the company's gross sales was around Rs 1,99,704 crore.

In the March 2021 quarter, Reliance Industries Ltd (RIL) reported a pre-tax profit of Rs 3,617 crore, or EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation). The company's revenue from organised retail business was Rs 50,834 crore in the March quarter, up 23.09 percent from Rs 41,296 crore the year before. In the three months ended March 2022, gross income, which comprises the value of sales and services, increased by 23.27 percent to Rs 58,017 crore. In the previous quarter, it was Rs 47,064 crore.

"Despite the hurdles given by the spread of Omicron wave and coming out of the Christmas season," "Reliance Retail generated its best-ever quarterly sales even surpassing the festive quarter performance," the company stated in a statement.

The COVID headwinds in January were countered by strong growth in February and March as the company took advantage of seasonal events and the early start of the summer season, it noted.

In the latest March quarter, net profit declined 4.8 percent to Rs 2,139 crore, compared to the same period last year. Reliance Retail's pre-tax earnings increased by 26.47 percent to Rs 12,381 crore in the fiscal year ended March 2022. For 2020-21, it reported an EBITDA of Rs 9,789 crore.

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