, India
Source: Matheus Cenali (Pexels)

Reliance Retail net profit grows by 12%

Its net profit amounted to INR2,415 crore.

Reliance Retail reported its net profit grew by 12.9% year-on-year to INR 2,415 crore in the fourth quarter of fiscal year 2023. 

Over the same quarter, Reliance Retail reported its revenue went up by 19.4% YoY to 69,267 crore. This was led by its Grocery, Consumer Electronics, and Fashion & Lifestyle.

Read more: Reliance Retail enters Indian footwear market with V Retail acquisition

“Reliance Retail delivered a robust performance with another year of strong revenue growth and profit performance,” the report read. 

Moreover, the quarter also saw Reliance Retail’s highest footfall at 219 million across formats. 

The company also opened 966 new stores.

 

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