Tata Steel bounces back with Rs 833 crore net profit in Q2
The company’s revenue from operations in the quarter fell 3 per cent year-on-year to Rs 53,905 crore.
Reliance Retail Ventures Limited (RRVL) delivered steady performance during Q1 FY25 with revenue of Rs 75,615 crore, up 8.1 per cent year-on-year.
The company reported EBITDA at Rs 5,664 crore, which was up by 10.5 per cent Y-o-Y, led by an increase in footfalls and expansion of store footprint, with streamlining of operations driving the margin improvement.
The company’s EBITDA before investment income was at Rs 5,448 crore, a growth of 11.5 per cent Y-o-Y.
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Depreciation increased on account of higher asset base due to the addition of new stores. Finance costs declined on account of repayment of borrowings.
The business expanded its store network with 331 new store openings, taking the total store count to 18,918 with an area under operation at 81.3 million sq ft.
The quarter recorded footfalls of over 296 million, a growth of 18.9 per cent Y-o-Y.
The focus on scaling up digital commerce and new commerce continued with these channels contributing to 18 per cent of total revenue.
The registered customer base grew to 316 million, making Reliance Retail one of the most preferred retailers in the country.
Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said “Reliance Retail delivered a resilient performance during the quarter and strengthened its position as India’s foremost retailer. The steady expansion and growth of our retail business not only signifies our commitment to customer centricity, but also mirrors the resilience and vitality of India’s growth narrative.
“We continue to make strides in delivering better retail experiences for our customers as we embrace innovation to improve products, processes, and platforms along with integrating advanced technologies.”
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