, India
Source: Pexels

Reliance Retail profit climbs over 100% in Q1

Its net profit stood at $261m. 

Reliance Retail posted a 114.2% net profit growth to $261m in the first quarter of the year as the business saw operated without disruptions for the first time since the onset of the pandemic. 

Its gross revenue for the quarter grew 51.9% year-on-year to $7.4b, whilst its operating earnings before interest, taxes, depreciation, and amortisation went up by 180.4% YoY to $493m. 

“Consumer spending got a boost as families indulged in leisure activities, socializing, festivities and shopping as COVID situation improved though sentiments remained cautious due to inflationary concerns,” Reliance Retail said in a statement. 

READ MORE: Reliance Brands brings Italian luxury brand Valentino to India

The company noted footfalls also climbed to 175 million during the quarter,  up by 19% compared to pre-pandemic levels. 

This translated to around 220 million transactions, a growth of over 60% compared to the pre-COVID levels. 

READ MORE: Reliance Brands enters F&B retail with Pret A Manger partnership

During the quarter, Reliance Retail opened 792 stores, bringing the total to 15,866 stores with area spanning 45.5 million square feet across the country.

It also boosted its supply chain capabilities with 79 additional warehousing and fulfillment locations. Reliance Retail also pursued partnerships with established brands, such as GAP Inc., Tod’s and Pret A Manger amongst others.

READ MORE: Gap Inc. enters India market 

Follow the link s for more news on

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Foodpanda mengotomatisasi ‘dark stores’ di Singapura untuk mempercepat pengiriman

Gudang 24/7-nya memastikan pemenuhan pesanan sepanjang waktu.

Peritel Singapura masuk pasar Thailand dan Malaysia melalui Shopee dan Lazada

Menjual di platform-platform ini jauh lebih murah dibandingkan membuka toko fisik.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Rakuten menggunakan robot otonom untuk meningkatkan pengiriman tahap akhir

Mereka dapat melakukan pengiriman pada malam hari dan saat cuaca buruk berkat sensor LiDAR.

Erajaya Digital membuka toko elektronik terbesarnya

Cabang ini merupakan toko konsep ke-80 dari sekitar seribu cabang yang tersebar di seluruh Indonesia.

Pasar perawatan hewan peliharaan melejit di Singapura

Mereka menghabiskan uang untuk pelajaran renang, yoga hewan, pilates, dan lainnya.

Jaringan makanan cepat saji asal Cina membidik listing di Hong Kong

Mereka menggunakan kota ini sebagai tempat uji coba untuk ekspansi lebih lanjut ke luar negeri.