Reliance Retail sees 23.4% rise in net profit; revenues up 53.4%

All-time high revenues across all consumption baskets

Reliance Retail, a subsidiary of Reliance Industries, saw its net profit jump by 23.4 per cent year-on-year (YoY) to Rs 2,259 crore in the December quarter of financial year 2021-22 (Q3FY22) with cash profit higher by 32 per cent at Rs 3,277 crore.

The company’s revenues increased 53.4 per cent YoY to Rs 50,654 crore in Q3 as gross revenue from all the consumption baskets, excluding petroleum and connectivity, grew by a whopping 90 per cent over the previous year.

“Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased