Reliance Retail profit up 28%, revenue rises 11%

RELIANCE RETAIL, THE retail arm of Reliance Industries (RIL), on Friday posted a 28.3% year-on-year rise in consolidated net profit to ₹3,271 crore for the quarter ended June 30.

- Viveat Susan Pinto

RELIANCE RETAIL, THE retail arm of Reliance Industries (RIL), on Friday posted a 28.3% year-on-year rise in consolidated net profit to ₹3,271 crore for the quarter ended June 30. Revenue rose 11.3% y-o-y to ₹73,720 crore on store expansion and digital push, but missed Street expectations of ₹87,800 crore for the period.

Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 10.9% y-o-y to ₹6,044 crore, falling short of the projected ₹6,700 crore. The Ebitda margin stood at 8.2%, unchanged from the quarter a year ago.