materials consumed relate to the packing materials used to package our products (a) for transportation between our warehouses
and stores and (b) for sale at our stores or through our online sales channel. Raw materials and packing materials consumed are
each measured by adding the inventories at the beginning of a period and the purchases made during that period, and then
deducting the inventories remaining at the end of the period.

Increase in inventories of finished goods and work-in-progress. Increase in inventories of finished goods and work-in-progress
comprise the net increase in the aggregate amount of finished goods, work-in-progress inventory and stock-in-progress
inventory in a given period. This is represented by the difference between the aggregate amount of finished goods, work-in-
progress inventory and stock-in-progress inventory at the end of period and the beginning of the same period.

Employee benefits expenses. Employee benefits expenses comprise salaries, wages and bonus, contribution to provident and
other funds, staff welfare expenses and employee stock option compensation expenses.

Depreciation and amortization expense. Depreciation and amortization expense primarily relates to depreciation of property,
plant and equipment, and amortization of intangible assets and right-of-use assets.

Finance costs. Finance cost primarily comprises interest on our lease liabilities and interest on our long-term borrowings and
short-term borrowing.

Other expenses. Other expenses primarily comprise expenses relating to packing and forwarding charges, credit care and debit
card commission charges, electricity charges, communication costs, printing and stationary costs, and commission and
brokerage costs.

Tax Expense
Tax expense consists of current tax and deferred tax.
Our Results of Operations Based on our Restated Financial Information

The following table sets forth our selected financial data from our restated statement of profit and loss for the financial years
2021, 2020 and 2019, the components of which are also expressed as a percentage of total income for such years:

For the Financial Year Ended March 31,
2021 2020 2019
(@ in millions, except percentages)

 

 

Revenue:
Revenue from operations.. tie 30,692.69 99.30% 28,706.03 99.40% 22,727.37 99.47%
Other income 215.45 0.70% 172.84 0.60% 122.03 0.53%

 

 

 

 

 

 

Total incom 30,908.14 10.00% 28,878.87 100.00% 22,849.40 __100.00%
Expenses:

Purchase of traded goods.. 25,213.88 81.57% 25,806.68 89.36% 18,713.73 81.90%
Cost of materials consumed. 82.45 0.27% 38.60 0.13% 16.93 0.07%

 

Increase in inventories of finished goods and work-

in-progress.... (1,054.40) (3.419% ~— (2,479.90) ——(8.58)% (290.39) (1.27) %

 

 

 

 

 

    

 

 

 

 

 

 

 

Employee benefits expense . 3,386.51 10.96% 2,724.02 9.43% 2,113.73 9.25%
Finance cost. 548.45 1.77% 467.96 1.62% 500.03 2.19%
Depreciation and amortization expense 882.70 2.86% 748.07 2.59% 585.93 2.56%
Net loss on fair value changes..... - = 322.97 1.12% = =
Other expenses 897.57 2.90% 956.88 3.31% 981.93, 4.30%
Total expenses 29,957.16 96.92% 28,585.28 98.98% 22,621.89 99.00%
Profit before tax. 950.98 3.08% 293.59 1.02% 227.51 1.00%
Total tax expenses. 319.87 1.03% 275.65, 0.95% 108.29 0.47%

631.11 2.04% 17.94 0.06% 119.22 0.52%

 

 

Profit for the year.

 

The following table sets forth our selected financial data from our restated statement of profit and loss for the six months ended
September 30, 2021 and 2020, the components of which are also expressed as a percentage of total income for such periods:

For the Six Months Ended September 30,
2021 2020
(@ in millions, except percentages)

 

Revenue:
Revenue from operations. a 18,799.21 99.42% 14,625.56 99.43%
Other income 109.78 0.58% 84.13 0.57%

 

Total income
Expenses:

18,908.99 100.00% 14,709.69 100.00%

 

 

 

Purchase of traded goods.. 15,297.42 80.90% 11,806.05 80.26%
Cost of materials consumed. 74.10 0.39% 53.86 0.37%
Increase in inventories of finished goods and work-in-progress (577.06) (3.05)% (418.69) (2.85)%
Employee benefits expense .. 1,798.14 9.51% 1,800.17 12.24%

 

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