Oct 21, 2022, 06:00 pm
Reliance Retail on Friday reported 36 per cent jump in its net profit for the September quarter to ₹2,305 crore. The Mukesh Ambani-owned retail chain's gross quarterly revenue was at ₹64,920 crore, higher by 42.9 per cent YoY.
Reliance Retail's posted a record EBITDA shot up by 51.2 per cent YoY to ₹4,404 crore.
EBITDA from operations increased 75.9% Y-o-Y to ₹4,286 crore in 2Q FY23, with a 130 basis point margin improvement over the same time last year resulting from favorable mix, positive operating leverage and operational efficiencies.
"Our Retail business delivered record performance with strong revival in footfalls, store additions and digital integration. Reliance Retail continues to provide a compelling proposition of great shopping experience and superior value across consumption baskets and price points," said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited
The business delivered record revenue and profits during the quarter led by broad-based growth across all consumer baskets.