RIL’s retail business tops petrochemical unit in revenues

Mukesh Ambani’s retail business is now bigger than his petrochemical unit in terms of annual revenues. Reliance Industries’ retail business reported revenues of ₹1.62 lakh crore in FY20 compared to ₹1.45 lakh crore earned from the petrochemical unit.

The revenue from the petrochemical business has dipped over 15 per cent in FY20 due to the coronavirus lockdown. Last year, the petrochemical business brought in revenues of ₹1.72 lakh crore compared to ₹1.30 lakh crore from retail business.

Reliance Retail operates 11,784 stores covering 28.7 million square feet with over 1,500 stores opened in the year and a record 30 per cent retail space added. 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.