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RRVL Q2 consolidated gross revenue was Rs 90,018 crore, up 18.0 per cent Y-o-Y.
Reliance Retail Q2 Results.
Reliance Retail Ventures Ltd, the retail arm of India’s largest conglomerate, reported a 22 percent rise in quarterly profit to Rs 3,457 crore amid strong sales growth across formats and improved operating efficiency.
Net profit rose to Rs 3,457 crore for the quarter ended September 30 from Rs 2,836 crore in the same period last year, the company said.
Consolidated gross revenue rose 18 percent to Rs 90,018 crore from a year earlier. Consolidated revenue from operations stood at Rs 79,128 crore, representing a 19 percent increase from Rs 66,502 crore in the corresponding quarter of the previous year.
Quarterly EBITDA came at Rs 6,816 crore, up 16.5 per cent from the year-ago period, driven by higher revenues with a favourable mix and improvement in store operating metrics.
“Reliance Retail delivered strong performance during the quarter, led by our relentless focus on operational excellence, investments in stores and digital platforms and festive buying across consumption baskets. GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer. We consistently innovate, from curating new collections to creating campaigns that connect with today’s Indian consumer, and our focus remains on building brands that inspire and resonate across India,” said Isha M. Ambani, Executive Director, Reliance Retail Ventures.
In Q2, the business expanded its store network with 412 new store openings, taking the total store count to 19,821 with area under operation at 77.8 million sq. ft.
Grocery and Fashion & Lifestyle businesses grew 23 percent and 22 percent, respectively, led by festive buying.
Consumer Electronics delivered 18 percent growth aided by GST rate reduction and new launches.
Disclaimer: Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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