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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.
Dit verhaal komt uit de October 15, 2024-editie van The Daily Guardian.
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