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Reliance Retail Q2 operating revenue down 3.5% to Rs 66,502 cr, profit up 1.28%
The Daily Guardian
|October 15, 2024
Reliance Retail Venture Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, reported a 3.53 per cent decline in operating revenue to Rs 66,502 crore for the quarter ended in September 2024.
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Profit after tax was marginally up 1.28 per cent at Rs 2,836 crore for the second quarter of the 2024-25 financial year.
The company had reported a revenue of Rs 68,937 crore and and profit after tax of Rs 2,800 crore for the July-September quarter a year ago, according to the regulatory filing of Reliance Industries Ltd (RIL).
"Growth impacted by weak Fashion and Lifestyle (F&L) demand, continued focus on streamlining of operations and calibrated approach to B2B business to improve margins," according to an earning statement from Reliance Industries.
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