Reliance Retail's footfalls were well above pre-Covid levels during the June quarter.
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Reliance Retail, part of Reliance Industries will be reporting results on Friday, October 21. The unit is likely to benefit from higher footfalls and operating leverage through the various acquisitions it has done through the quarter.
Broking firm Nomura expects high-single-digit growth in both revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization). On the other hand, the EBITDA margin is likely to expand by 20 basis points compared to the same period last year.
For the quarter, Reliance Retail's revenue is likely to cross the Rs 60,000 crore mark for the first time while EBITDA or operating profits will also cross the Rs 4,000 crore mark for the first time.
During the quarter, Reliance Retail collaborated with Facebook-parent Meta and Jio Platforms to launch JioMart on WhatsApp. Through this feature, customers are now able to browse the JioMart catalog, add products to their cart and make purchases within WhatsApp itself.
Reliance Retail added 792 new stores in the June quarter over the 2,500 stores that it had during the financial year 2022. Footfalls in the stores are at 175 million, 19 percent higher than pre-Covid levels. The Digital and New Commerce business grew 2x during the June quarter.
Shares of Reliance Industries have gained 4 percent this year so far.
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(Edited by : Abhishek Jha)
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