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By Hormaz Fatakia Jan 20, 2023 9:17:23 PM IST (Updated)
Reliance Retail's revenue grew 4 percent quarter-on-quarter, but missed Nomura's expectations of an 8 percent growth.
Reliance Retail reported a 17 percent year-on-year growth in overall revenue for the December quarter, coming in at Rs 67,623 crore. The figure was lower than Nomura's estimate of Rs 70,330 crore. The retail arm of Reliance Industries saw revenue increase 4.1 percent on a sequential basis.
The retail division's operating profit or EBITDA increased 25 percent from the same period last year to Rs 4,773 crore, which comfortably surpassed Nomura's estimate of Rs 4,640 crore.
The division's EBITDA margin on sales increased 70 basis points from the same period last year to 7.7 percent, as a result of a favourable mix, operating leverage and efficiencies.
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