Reliance Retail reported a 27 per cent increase in revenues at ₹41,202 crore during the second quarter.
Despite a slowing growth environment, Reliance Retail registered the highest ever revenue and EBITDA in a quarter. EBITDA was at ₹2,322 crore, growing at 67 per cent over the same period of the previous year. EBITDA margin on net revenue improved by +150 bps y-o-y from 4.8 per cent to 6.3 per cent, driven by improving store productivity, operating efficiencies and a favourable portfolio mix.
“Reliance Retail’s conviction in the larger macro and India retail opportunity is reflected in the rapid store expansion across all store concepts,” it said in a statement. During the quarter, Trends Small Town crossed 100 stores, within a year since its launch. Reliance Retail opened the 200th SMART Store.