Reliance Retail posts marginal decline in revenues

Net revenues stood at Rs 36,972 crore in Q2FY20.

Reliance Retail on Friday reported revenues of Rs 36,566 crore on a consolidated basis for the three months to September, a marginal decline over the previous year as lockdown-related restrictions on store operations were progressively eased during the quarter. Net revenues stood at Rs 36,972 crore in Q2FY20.

During the quarter, the company’s ebitda decreased to Rs 2,006 crore from Rs 2,322 crore in the year-ago period, a decline of 13.60%, the company said in a presentation. The ebitda margin declined to 5.5% in Q2FY21 from 6.3% in Q2FY20.

“Overall, Reliance Retail’s 2Q FY21 performance reflects resilience and customer preferences. The business is focused on restoring the momentum to pre-pandemic levels as operating curbs and limitations are relaxed,” the company said.

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