3:39 AM
Reliance Retail Q3 revenue declines 9.7% to Rs 33,018 crore; profit surges
Reliance Retail, the retail arm of Reliance Industries (RIL), reported a 9.7 per cent sequential decline in its revenue from operations which stood at Rs 33,018 crore in the December quarter (Q3), but profit surged on the back of strong operational performance, it said on Friday.
Yearly numbers are not comparable, RIL said, since the petro retail business, which makes up 40 per cent of the company’s retail revenues, has been demerged.
Gross sales decreased 8 per cent sequentially to Rs 37,845 crore in Q3.
Earnings before interest, tax, depreciation, and amortisation (Ebitda) rose 53.9 per cent sequentially in Q3 to touch Rs 3,087 crore, while Ebitda margins expanded 380 basis points to 9.3 per cent. RIL does not report net profit numbers for its retail business.
The firm said all stores were operational during the quarter, with the company adding 327 new stores in Q3. Total store count now stands at 12,201 outlets spread over 31.2 million sq ft.
Analysts expect the retail business to pick up as the economy recovers. The company is also beginning to consolidate backend operations of the Future business into it.
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