Reliance Industries Ltd is set to report its results for the quarter ended December 2023 on Friday, January 19. Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries, is expected to report steady numbers for the period under review. The festive season is likely to have aided growth in the third quarter.
The premium and discretionary items are selling well. However, mass-consumption products are still under stress.
Kotak Institutional Equities projects a 20% year-on-year rise in revenue at ₹81,131 crore. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) is likely to come in at ₹6,201 crore, a 30% jump from the year-ago period's operating leverage. In the
previous quarter, the EBITDA came at ₹5,820 crore. The margins are seen as remaining unchanged at 7.6% on a sequential basis.
Increased store footprint, higher footfalls and benefits of operating leverage are seen as the key drivers for growth. In the preceding quarter, Reliance Retail opened 471 new stores, taking the total count at the end of September 2023 to 18,650. The quarter reported footfalls of over 260 million across formats, up 40.5% from the previous year.
This will be Reliance Industries' first quarterly result after the new generation's appointment to the board. Last October, the day its quarterly results were announced, the company formalised the succession plan announced at its previous Annual General Meeting. The shareholders had approved the appointment of Isha, Akash, and Anant Ambani to the company's board as Non-Executive Directors.
