Reliance Retail's Q3 revenue jumps 17%, net profit up 6.2% on highest ever footfalls
Reliance Retail, the retail arm of diversified conglomerate Reliance Industries, clocked 17 percent year-on-year (YoY) jump in revenue from operations at Rs 67,634 crore in the quarter ended December 2022. Consolidated revenue for Reliance Retail stood at Rs 57,717 crore in the same period last year.
Net profit for the quarter rose 6.2 percent YoY to Rs 2,400 crore, from Rs 2,259 crore in Q3 FY22. The company said it recorded its highest ever footfalls at 201 million across formats and geographies, registering a growth of 25 percent YoY.
Reliance Retail also recorded its highest ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortization) at Rs 4,773 crore, up 24.9 percent YoY. EBITDA margin on net sales was at 7.9 percent, up 40 basis YoY.
The physical store network expanded with 789 new openings, taking the total store count at the end of the quarter to 17,225 stores with an area of 60.2 million square feet, the company said in its press release.
