Reliance Retail posts 33% rise in Ebitda, revenue grows at 4.2% in Q4 FY20

Reliance Retail posted a 33 per cent rise in earnings before interest tax, depreciation and ammortisation (Ebitda) at Rs 2,556 crore. However, its revenues for 4Q FY20 grew by 4.2 per cent year-over-year (y-o-y) to Rs 38,211 crore.
 

Reliance said it was another year of highest ever revenue and Ebitda, against the backdrop of a challenging environment. Its revenues for FY20 grew by 24.8 per cent on a yearly basis to Rs 62,936 crore. Ebitda for FY20 grew by 56 per cent y-o-y to Rs 9,654 crore.

"Overall, the year has been a growth year with March being a tepid month due to the Covid-19 lockdown impact," Reliance said. During March, grocery stores recorded their highest-ever sales, surpassing the Diwali month performance despite logistical challenges, it said.

All grocery stores were kept open for extended hours to provide access and availability of essential products to customers in these trying times, the company said. Reliance Retail added 496 stores in the quarter or 1,553 stores during the year, taking the overall count of 11,784 stores covering an area of 28.7 million square feet. Footfalls at 640 million, were up 17 per cent y-o-y with 125 million registered/loyal customer base, up 40 per cent y-o-y, it said.
 

As part of its Jio Mart Pilot initiative, Reliance Retail supported its partner kirana stores by offering uninterrupted services and supplies during the lockdown period. Daily orders grew by four times during the lockdown period , it said.