Reliance Retail Ebitda rises 70 pc to Rs 2,049 cr in June quarter

Reliance Retail on Friday reported a 69.9 per cent increase in its earnings before interest, tax, depreciation and amortisation (Ebitda) to Rs 2,049 crore for the first quarter ended June 30, led by strong sales growth.

The retail arm of Reliance Industries Ltd (RIL) had posted an Ebitda of Rs 1,206 crore in the corresponding period a year ago.

Revenue from the organised retail segment of RIL during the quarter was up 47.53 per cent to Rs 38,196 crore as against Rs 25,890 crore of the corresponding period last fiscal.

"Despite a slowdown in the FMCG and consumer sector, Reliance Retail continues to grow faster than every other player," said RIL in a statement adding "Customer centric approach, sourcing and operating cost advantage and benefit of operating leverage helped Reliance Retail deliver record Ebitda for the quarter".

During the quarter, Reliance Retail crossed the milestone of 100 million register customers and 150 million footfalls, establishing its position as the most preferred retailer in India, it added.

RIL Chairman and Managing Director Mukesh Ambani said: "We are pleased with the robust growth both in revenues and operating income for Reliance Retail. Our digital services business continues to transform the mobility market in India while scaling newer milestones."
During the quarter, Reliance Brands, a subsidiary of the company, completed the full acquisition of British Toy retailer Hamleys and exclusive partnership with British Footwear and Handbags brand Kurt Geiger