20 July 2024, Mumbai
For the first quarter ended June 30, 2024, Reliance Retail Ventures (RRVL) reported a 10.5 per cent Y-o-Y rise in EBITDA, reaching Rs 5,664 crore. This growth was driven by an increase in footfalls, an expanded store footprint, and streamlined operations that improved margins
The company’s revenue for the quarter increased by 8.1 per cent Y-o-Y to Rs 75,615 crore. Net profit rose by 4.63 per cent to Rs 2,549 crore during the June quarter while revenue from operations increased by 6.6 per cent to Rs 66,260 crore from Rs 62,159 crore a year ago.
Digital Commerce and New Commerce channels contributed 18 per cent of the company's total revenue during the quarter as it continued to focus on scaling these segments. Revenues from the consumer brands business grew by 150 per cent Y-o-Y, while the average bill value for Jiomart grew by 16 per cent Y-o-Y. Ajiio expanded its product catalogue by over 20 per cent and added more than 1.9 million customers.
The company expanded its store network with 331 new openings, bringing the total number of stores to 18,918 and increasing the operational area to 81.3 million sq ft. The company also added 30 new Metro stores, bringing the total to over 200 stores across more than 180 cities.
