Published By: Business Desk
Last Updated: October 27, 2023, 19:53 IST
Reliance Retail Q2 Results. (Representational picture: News18)
Reliance Retail opened 471 new shops throughout the quarter, bringing the full variety of shops to 18,650, masking an space of 71.5 million sq ft
Reliance Retail, the retail arm of diversified conglomerate Reliance Industries, on October 27 reported a 21 % 12 months-on-12 months (YoY) improve in web revenue to Rs 2,790 crore within the quarter ended September.
Gross income stood at Rs 77,148 crore, rising 18.8 % YoY from Rs 64,920 crore within the corresponding quarter final 12 months, the corporate mentioned. This is led by nicely-rounded development throughout consumption baskets.
Grocery and Fashion & Lifestyle companies maintained sturdy development momentum whereas Consumer Electronics had a gentle efficiency regardless of festive interval falling in 3Q FY24.
Reliance Retail posted an EBITDA of Rs 5,820 crore, which was up by 32.2 % on a Y-o-Y foundation. EBITDA margin from operations on web gross sales was at 8.1 %, up 70 bps Y-o-Y pushed by working leverage and continued concentrate on value administration.
“I am delighted to report that we have delivered yet another quarter of stellar performance and achieved an all-time high across financial matrices. The performance is a testament to our customer-centric approach that defines Reliance Retail and we look forward to serving our customers this festive season with renewed optimism and enthusiasm.” mentioned Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited.
The firm opened 471 new shops throughout the quarter, bringing the full variety of shops to 18,650, masking an space of 71.5 million sq ft. The quarter noticed a 40.5 % Y-O-Y improve in footfalls, reaching over 260 million throughout all codecs. Meanwhile, income from Digital Commerce and New Commerce companies rose, accounting for 19 % of the full income.
