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RIL Q2 result: Reliance Retail's profit rises over 55% to Rs 1,148 crore

Mukesh Ambani says continuing growth trends in RIL's retail business is "heartening"; Reliance Retail delivered robust performance with record quarterly revenues and EBITDA, he adds

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 18, 2019  | 20:42 IST
RIL Q2 result: Reliance Retail's profit rises over 55% to Rs 1,148 crore
RIL Chairman Mukesh Ambani

Reliance Retail posted a net profit of Rs 1,148 crore in Q2, a 55.8 per cent rise on annual basis. The company's revenue in the second quarter increased to Rs 41,202 crore, up 27 per cent year-on-year (Y-o-Y). RIL said the Q2 revenue of Reliance Retail surpassed the Rs 40,000-crore milestone, which, it claimed, is higher than "the annual revenue registered by the next largest retailer in India".

During the quarter, Reliance Retails's earnings before interest, tax, depreciation and amortisation (EBITDA) was at Rs 2,322 crore, up 67 per cent YoY. "EBITDA margin on net revenue improved by over 150 bps Y-o-Y from 4.8 per cent to 6.3 per cent, driven by improving store productivity, operating efficiencies and favourable portfolio mix," said the company.

Expanding its footprints across grocery, consumer electronics, fashion and lifestyle segments, Reliance Retail opened 337 new stores in the quarter, taking the overall number to 10,901 stores.

Reliance Retail's 'Trends Small Town' crossed 100 stores in Q2, said RIL, adding the firm also opened its 200th 'smart store' and has over 100 Hamleys stores across the country.

In consumer electronics, Reliance Digital recorded 12 per cent growth in Q2. As many as "100 new stores were opened during the quarter, taking the count to over 8,200 stores," said the company.

Reliance Retail received over 12 million footfalls in Q2, a growth of 13 per cent YoY. "...more than 6.3 million transactions were done, a growth of 21 per cent YoY during the Big Sale Period between 10th and 15th August period," said the company, claiming attractive offers helped draw customers to Reliance Retail stores during this period.

RIL Chairman Mukesh Ambani said the company delivered robust performance in terms of quarterly revenue and EBITDA. "Continuing growth trends in our retail business is heartening. Guided by our obsession to provide the best value for our customers, Reliance Retail delivered robust performance with record quarterly revenues and EBITDA," he said.

Edited by Manoj Sharma

Also read: Reliance Industries Q2 result: Profit rises 18% to Rs 11,262 crore, revenue up 5%

Also read: Reliance Jio net profit rises 45% to Rs 990 crore in Q2 FY20; subscriber base crosses 350 million

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