Reliance Retail net profit grows 36% in Q2; revenue up 44.5% YoY

Reliance Retail saw its (gross) revenue at Rs 64,920 crore, up 42.9 per cent year-on-year

Reliance Retail, the retail arm of Mukesh Ambani-led Reliance Industries, registered a 36 per cent rise in net profit at Rs 2,305 crore for the July-September quarter (Q2FY23) compared to last year, while its earnings before interest, taxes, depreciation, and amortisation (Ebitda) from operations jumped 75.9 per cent to Rs 4,286 crore.

The country’s largest retailer’s cash profit for the quarter rose 45 per cent to Rs 3,324 crore. Net revenue from operations surged 44.5 per cent year-on-year to Rs 57,694 crore, while gross revenue stood at Rs 64,920 crore, up 42.9 per cent.

The company said the quarter was marked by