India's Reliance Industries' PAT grows 67% YoY in Q1 FY22

The consolidated value of sales and services of RIL for Q1 FY22 was ₹158,862 crore ($21.4 billion), higher by 57.4 per cent over Q1 FY21. EBITDA for the quarter increased by 27.6 per cent to ₹27,550 crore ($3.7 billion), while net profit before exceptional item for the quarter soared 66.7 per cent to ₹13,806 crore ($1.9 billion). EPS before exceptional item increased by 46.7 per cent for the quarter to ₹19.0 per share.

The value of sales and services of Reliance Retail for Q1 FY22 was ₹38,547 crore ($ 5.2 billion), registering a year-on-year growth of 21.9 per cent. EBITDA for the quarter rose by 79.9 per cent to ₹1,941 crore ($ 261 million), while net profit shot up by 123.2 per cent to ₹962 crore ($ 129 million).

At the end of the first quarter, i.e. June 30, 2021, a total of 12,803 physical stores were operation, with the opening of 123 Reliance Retail stores during the quarter. The area of operation too increased to 34.5 million sq feet compared to 29.0 million sq feet in the corresponding quarter of the previous year.

“I am happy that our company has delivered robust growth despite facing a highly challenging operating environment caused by the second wave of the COVID-19 pandemic. The results of the first quarter of FY2022 clearly demonstrate the resilience of Reliance’s diversified portfolio of businesses that cater to large parts of the consumption basket," said RIL chairman and managing director Mukesh Ambani.

Meanwhile, in the Fashion & Lifestyle segment, the quarter witnessed strong growth Y-o-Y on better trading conditions as compared to last year. "The strong growth in Apparel & Footwear over last year was led by regional events, impactful in-store activations, and compelling offers to drive conversions and ticket sizes," the oil-to-telecom conglomerate said in its press release for Q1 FY22.

"Smaller town stores remain more resilient and continued to outperform with above average operating metrics," the release added.

During April-June 2021, hyperlocal capabilities for Fashion on JioMart was extended to over 450 cities. AJIO, RIL's online shop for latest fashion in apparel brands, sustained its strong momentum as it scaled new highs, traffic, monthly active users and orders were up 4x over previous year. "This was enabled by the impactful execution of events, wider range availability and ramping up of supply chain capacity across the network to meet the surge in business," RIL said.

Fibre2Fashion News Desk (RKS)