Reliance Retail, one of the growth drivers for Reliance Industries on a consolidated basis, saw its net profit in the March quarter rise 13 per cent to ₹2,415 crore, while revenue rose over a fifth to ₹61,559 crore.
Earnings before interest, tax, depreciation, and amortisation at ₹4,914 crore rose nearly a third on year.
The company has been investing steadily in the retail business and during the quarter it opened 966 new stores, while footfalls at 219 million were the highest in the quarter and up 41.3 per cent on year.
The company said that it saw robust growth across grocery, consumer electronics, fashion, and lifestyle.
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It ended the year with over 18,000 stores, as reported by businessline, and a total retail footprint of 65.6 million sq ft. New format launches included Smart Bazaar, Azorte, Centro, Fashion Factory and Portico.
In a presentation, the company said its strategy was to add to all its store formats and push store brands. It would also keep stocking its stores with all the new brands that it was launching, either through acquisitions or through partnerships.
It was investing in supply chain infrastructure and had added 12.6 msf of warehouse space during the year.
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Digital commerce and new commerce businesses contributed to 18 per cent of revenue, it said.
Launch of FMCG products, cola brand Campa and beauty store Tira in the last couple of months would help in ramping up the business in the future, it said.