The retail business of Reliance Industries posted a three-fold jump in its profit before depreciation, interest and taxes (PBDIT) in the first quarter of the current financial year on the back of strong sales growth and improvement in margins.
It posted a PBDIT of Rs 12.06 billion in the first half of 2018-19 financial year, compared to Rs 3.98 billion in the same period previous year. "The benefits of strong focus on cost control, scalability and operating leverage are reflecting in 3x EBITDA growth year on year basis," it said.
Its revenues went up two fold at Rs 258.90 billion in the first quarter, compared to Rs 115.71 billion in the same period last year.
The EBIT margin went up to 4.1 per cent in the April-June quarter, compared to 2.5 per cent in first quarter the previous year. The firm's area operation went up from 13.8 million square feet in the first quarter of last year to 18.6 mn sq ft in this April-June quarter.