Reliance Retail’s June quarter net profit rose 18.8 per cent on year to ₹2,448 crore, while revenue was up 20.5 per cent at Rs 62,159 crore driven by grocery, consumer electronics and fashion and lifestyle segments.

During the quarter, the retail division saw 249 million footfalls across its stores. The company opened 555 new stores in the quarter end it with a total store count of 18,446 spread across 70.6 million square feet.

Operating profit was 33.9 per cent higher at ₹5,139 crore in the quarter, while EBITDA margin was up 30 basis points at 7.9 per cent driven mainly by efficiencies.

Depreciation rose due to a higher asset base as the company added new stores and supply chain infrastructure. Finance costs also rose due to increased borrowings to finance expansion.

Digital and new commerce channels contributed around 18 per cent to revenue. During the quarter, the company completed its acquisition of Metro Cash and Carry, and integration of the operations are under way.

Consumer electronics businesses saw a 14 per cent growth, while the fashion and lifestyle segment rose 15 per cent with an increase in store traffic and average spending.

The company has also launched its own brands and expanded its range of product offerings, which is expected to fuel future growth.

AJIO business added two million new customers during the period along with several new brand launches across categories.

Grocery segment saw a significant rise in business of 59 per cent on low prices and event-based offers.

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