Reliance Retail's revenue has fallen short of its own record by ₹2,000 crore
- Reliance Retail has reported a revenue of ₹45,450 crore in the July to September quarter of 2021.
- This is still nearly ₹2,000 crore lower than the metrics reported in January to March quarter.
- The fashion and lifestyle segment reported its highest ever revenue this quarter, while other categories grew.
AdvertisementAs several analysts predicted, Reliance Retail has a strong growth momentum in the fashion and lifestyle, consumer electronics and groceries segment. However, this has not helped the company breach the bar it raised six months ago.
Reliance Retail has reported a revenue of ₹45,450 crore in the July to September quarter of 2021, but this is still nearly ₹2,000 crore lower than the metrics reported in January to March quarter.
The Mukesh Ambani-led retail giant had reported its highest ever quarterly revenue in the March quarter.
However, the retail giant has once again crossed its pre-Covid financial performance in this quarter.
|July to September 2021||₹45,450 crore|
|July to September 2020||₹41,100 crore|
|July to September 2019||₹41,202 crore|
Reliance Retail has witnessed strong growth momentum in the fashion and lifestyle segment, with sales closing above pre-COVID level. Consumer electronics and groceries also maintained a strong growth momentum as well, the company added.
|Reliance Retail||Opened 813 stores, total count goes up to 13,635 stores|
|Digital and new commerce||All platforms recorded growth in daily orders and operating matrices. The business grew 2.4 times on an annual basis.|
|Consumer Electronics||Consumer Electronics stores witnessed strong double-digit growth driven.|
|RelianceDigital.in||Expanded to 2,000 cities.|
|Fashion & Lifestyle||Reported highest ever quarterly revenue.|
“Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings resulting in healthy growth in revenues and margin expansion,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said in a statement.
The company has witnessed growth across all consumption baskets due to revicial in consumer sentiments during the festive seasons. Besides this, COVID-19 regulation relaxation has also impacted the demand for Reliance Retail’s business.
The company has also closed three acquisitions in the July to September quarter. This includes grocery delivery platform Milkbasket, home styling solutions brand Portico and hyperlocal search engine Just Dial.
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