The company said its revenue for the July-September months was up to Rs 45,426 crore, up 10.5 per cent compared to the same months last year when the company reported Rs 41,100 crore in total sales.
Reliance Retail said its profits were mainly buoyed by a “record quarter” for the fashion and lifestyle segment that has witnessed double the growth of the second quarter of 2021 and sales have peaked above the pre-pandemic levels.
Dinesh Thapar, the chief financial officer of the retail unit of Reliance Industries Ltd, said almost 90 per cent of the company’s more than 13,000 outlets were operational in the quarter compared to about 60 per cent in April-June months and footfalls almost reached 90 per cent of pre-pandemic levels in October.
“Sentiments have distinctly improved. We have seen demand which is buoyant …we have seen demand come back in big way across the country,” Thapar said. “We have had a good festive season.”
Reliance Retail said it added more than 800 outlets in the quarter, taking the total number of stores nationwide to more than 13,500 spanning over 37 million sq ft.
In the quarter Reliance Retail acquired online grocer MilkBasket, Portico home styling solutions company and JustDial local search engine and purchased a controlling stake in Ritu Kumar. The country’s largest retailer by sales also entered into a franchisee agreement with 7-Eleven Inc.
