Mukesh Ambani; Reliance RIL Retail Quarterly Results | Reliance Q1 Earnings Report Today | Earnings from retail business increased by 123% to Rs 962 crore in June quarter, 123 new stores also opened

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  • Mukesh Ambani; Reliance RIL Retail Quarterly Results | Reliance Q1 Earnings Report Today

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Mukesh Ambani’s company Reliance Industries has released the June quarter results on Friday. The company’s consolidated profit stood at Rs 12,273 crore during April-June as against Rs 13,233 crore in the same quarter last year. At the same time, the profit for the March quarter was 12,430 crores. Talking about the revenue, it has increased by 58.2% to Rs 1.44 lakh crore.

Retail business profit up 123%
According to the exchange filing, the company’s profit from retail business has increased 123.2% to Rs 962 crore from Rs 431 crore last year. Similarly, cash profit also increased by 76.3% to Rs 1,400 crore in the June quarter. The company said that 123 new stores were opened in the June quarter. In this sense, the total number of stores has now gone up to 12,803.

Mukesh Ambani, managing director and chairman of Reliance Industries Said that the strict restrictions during the second wave of Corona had a bad effect on the retail business. However, our focus is on offline and online supply of essential items, including food, grocery, health and hygiene products. He said that our effort is on digital engagement with small shopkeepers and customers. This will create a new model of growth.

Reliance Retail is in command of Just Dial.
Reliance Retail has acquired digital services company Just Dial. The company has done this deal for Rs 3,497 crore. This gives Reliance 41% stake in Just Dial. The company will bring an open offer for an additional 26% share. The new deal will help the businessmen and MSMEs associated with Reliance Retail to strengthen their business.

Retail business revenue up 19%
Reliance Retail’s revenue from operations grew 19% year-on-year to Rs 33,566 crore as against Rs 28,197 crore in the June quarter last year. EBita also rose 79.9%. It stood at Rs 1,941 crore in the June quarter, up from Rs 1,079 crore a year ago. Margins also increased from 3.8% to 5.8%.

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