Reliance Retail’s annual net profit crosses Rs 10,000 crore

Reliance Industries Limited’s financial results for the fourth quarter of the 2024 financial year show that Reliance Retail‘s annual net profit crossed the Rs 10,000 crore milestone and RIL’s consolidated annual revenue increased by 2.6% year on year to reach Rs 10 lakh crore.

RIL’s profits after tax increased by 7.3% year on year to total Rs 79,020 crore for the entire 2024 financial year, the business announced in a press release. Tax expenses increased by 26.2% year on year and the business’ capital expenditure for the 2024 fiscal totalled Rs 1.3 lakh crore due to significant business expansion.
 
“Initiatives across RIL’s businesses have made a remarkable contribution towards fostering growth of various sectors of the Indian economy,” said Reliance Industries Limited’s chairman and managing director Mukesh D Ambani in a press release. “It is heartening to note that alongside strengthening the national economy, all segments have posted a robust financial and operating performance. This has helped the company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits.”
 
RIL’s fashion and retail business Reliance Retail Ventures Limited’s saw its quarterly revenue increase by 10.6% year on year to reach Rs 76,627 crore. The business opened 562 new stores and reported a total footfall of 272 million across all of its retail formats.
 
“Reliance Retail continued to provide customers endless choices through its robust omni-channel presence,” said Ambani. “We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue. Reliance Retail also works towards strengthening millions of merchants through its unique initiatives in new commerce space.”