Reliance Retail Q3 revenue up 89.3 percent
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Healthy festive season sales and new store openings led Reliance Industries’ organised retail business — Reliance Retail — to report a 89.3 per cent rise in its revenue for the third quarter of 2018-19. The firm’s revenue figure was disclosed under the Reliance Industries (RIL)’s third quarter results, on Thursday. Accordingly, the firm’s revenue for 3Q FY19 grew by 89.3 per cent to Rs 35,577 crore from Rs 18,798 crore reported for the corresponding quarter previous year.
The company’s Earnings Before Interest and Taxes (EBIT) rose 210.5 percent on a year-on-year (Y-o-Y) basis to Rs 1,512 crore from Rs 487 crore demonstrating strong operating profit during the quarter.
In addition, EBIT margin for the segment improved by 160 basis points to 4.2 percent reflecting scale benefits. Retail now has 9,907 stores with a reach across more than 6,400 towns and cities
Questions & Answers
Q.What was the total revenue reported by Reliance Retail for the third quarter?
What was the total revenue reported by Reliance Retail for the third quarter?
Reliance Retail's revenue for the third quarter of FY19 was Rs 35,577 crore. This represents an 89.3 per cent increase compared to the Rs 18,798 crore reported in the same quarter of the previous year.
Q.How many new stores does Reliance Retail currently operate?
How many new stores does Reliance Retail currently operate?
The company now operates a total of 9,907 stores. These stores extend their reach across more than 6,400 towns and cities within the country.
Q.What was the growth in Earnings Before Interest and Taxes for the company?
What was the growth in Earnings Before Interest and Taxes for the company?
Reliance Retail's Earnings Before Interest and Taxes (EBIT) increased by 210.5 percent year-on-year. It rose to Rs 1,512 crore from Rs 487 crore in the corresponding quarter.
Q.What factors contributed to Reliance Retail's strong revenue growth?
What factors contributed to Reliance Retail's strong revenue growth?
Healthy festive season sales played a significant role in the revenue growth. Also, the opening of new stores across various locations also contributed to the strong performance.
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