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FY-2016: Reliance Retail revenue grows 23%

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BENGALURU: The Mukesh D Ambani led Reliance Industries Limited (RIL) organized retail segment - Reliance Retail,  continued its growth momentum and profitability in the quarter and financial year ended 31 March 2106 (Q4-2016, current quarter, FY-2016, current year)

Reliance chairman and managing director, Mukesh D. Ambani said, ?Reliance Retail continued its path of profitable expansion while maintaining a robust revenue growth of 23 per cent during the year. Looking ahead, we are focused on ensuring a flawless start- up and stabilization of the new growth platforms across our hydrocarbon and consumer businesses. The commercial roll-out of our Jio services this year will digitally enable a billion Indians and propel growth for India and Reliance.?

Reliance Retail added 624 stores across various store concepts translating into a store opening rate of 12 stores per week denoting the accelerated store opening program which the business has implemented during the year. As on 31st March 2016, Reliance Retail operated 3,245 stores across 532 cities.

RIL?s organized retail segment reported 22.5 percent growth in revenue at Rs 21,612 crore in FY-2016 as compared to Rs 17,640 crore in FY-2015. The segment reported 21.3 per cent growth in operating result at Rs 508 crore as compared to Rs 417 crore in the previous year. 

In Q4-2016, the segment reported 20.7 per cent  year-on-year (YoY) growth in revenue at Rs 5,781 crore as compared to Rs 4,788 crore, but a 4.2 per cent quarter-on-quarter (QoQ) decline as compared to Rs 6,042 crore in Q3-2016. The segment operating profit for the current quarter at Rs 131 crore was 26 per cent higher YoY than the Rs104 crore, but 10.9 per cent lower QoQ as compared to Rs147 crore.

RIL numbers

RIL achieved a consolidated turnover of Rs 296,091 crore for FY-2016, a decrease of 23.8 per cent, as compared to Rs 388,494 crore in the previous year. The company says that the decline in turnover reflects sharp fall in feedstock and product prices during the year, partially offset by record crude throughput and higher petrochemicals volumes. Profit after tax was higher by 17.2 per cent at Rs 27,630 crore (9.3 per cent margin) as against Rs 23,566 crore (6.1 per cent margin) in the previous year.

For Q4-2016, RIL achieved a turnover of Rs 64,569 crore, a decrease of 8.9 per cent, as compared to Rs 70,863 crore in the corresponding period of the previous year. Profit after tax including exceptional items was higher by 15.9 per cent at Rs 7,398 crore (11.5 per cent margin) as against Rs 6,381 crore (9 per cent margin) in the corresponding period of the previous year.

Reliance Jio updates for Q4-2016

RJIL successfully launched full scale service offerings for the RIL group employees, partners, vendors and associates on a trial basis on 28 December 2015. The company says that over half a million users have been onboarded on the network. The initial feedback is very encouraging and has established smooth operations of all aspects of the network. All the digital applications have also been tested extensively as part of the employee launch program. The average monthly consumption per user is in excess of 18GB within the first month of service and is increasing rapidly. Average voice usage is

over 250 minutes within the first month. The launch is now being expanded to others in the ecosystem. This test program will be progressively upgraded into commercial operations in coming months.

RJIL is also creating a multi-terabit capacity international network. RJIL recently announced the launch of a new, state-of-the-art 8,100 km cable system, the Bay of Bengal Gateway (BBG). BBG provides direct connectivity to South East Asia and the Middle East, then onward to Europe, Africa and Far East Asia through seamless interconnection with existing cable systems. RJIL owns and operates the strategically important undersea cable landing facility in Chennai, providing a highspeed, high-capacity, low latency route connecting India to the rest of the world. During the quarter, RJIL has issued and allotted 1,500 crore equity shares of Rs 10 each, at par, to Reliance Industries Limited, its holding company.

In January 2016, Reliance Jio Infocomm Ltd (RJIL) and Reliance Communications Limited (RCOM) signed agreements for Change in Spectrum Allotment in 800 MHz band across 9 Circles from RCOM to RJIL and for sharing of spectrum in 800 MHz band across 17 Circles. As part of the strategic collaboration, both companies also intend to enter into reciprocal Intra Circle Roaming (ICR) arrangements.

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