Reliance Retail Q2 Results: Net profit jumps 74% YoY to Rs 1,695 crore

Consolidated revenue from operations came in at Rs 39,926 crore in the reporting quarter as compared to Rs 36,566 crore in the year-ago period.

"Reliance Retail delivered a strong performance with consolidated Gross Revenue recorded at Rs 45,426 crore for 2Q FY22, a growth of 10.5 percent Y-o-Y and higher than Pre-COVID period," RIL said in the earnings release.

For Reliance Retail, this time around a good revenue recovery was expected, both on a quarter-on-quarter (QoQ) and YoY basis, due to a favourable base.

Reliance Retail Q2FY22 preview: Good revenue recovery expected on favourable base

Consumer Electronics stores witnessed strong double-digit growth while fashion and lifestyle business delivered record performance with the highest-ever quarterly revenues and posted over two times growth over same period last year.

Meanwhile, the jewellery business sustained its robust growth momentum and the grocery business managed to continue to post strong double-digit growth.

Further, the company's earnings before interest, taxes, depreciation, and amortization (EBITDA)  stood at Rs 2,913 crore in Q2 FY22, up 45.2 percent on-year. A favorable revenue mix, continued focus on cost management and investment income boosted EBITDA.

During the quarter, 813 new stores were ready taking the total count to 13,635 stores across 37.3 million sq ft. retail space while the business commissioned 86 warehouses and fulfillment centers spread in an area of 2.5 million sq ft. of space to bolster its service capabilities., the press release said.

On Friday, RIL shares closed 0.2 percent higher at Rs 2,627.05 on the BSE, ahead of the earnings announcement.