Reliance Retail Q1 Results: Net Profit Declines 8%, Revenue Falls 5%

Reliance Retail Ventures Ltd.’s first quarter net profit declined 7.7% to Rs 3,271 crore from Rs 3,545 crore in the preceding quarter, according to the consolidated financial results declared on Friday.

The retail arm of Reliance Industries Ltd. also logged a 5% fall in revenue to Rs 84,172 crore from Rs 88,637 crore in the March quarter. This was lower than the consensus estimate of Rs 85,111 crore of the analysts tracked by Bloomberg.

Reliance Retail's earnings before interest, tax, depreciation and amortisation fell 5% to Rs 6,381 crore from Rs 6,721 crore, thereby missing analysts' estimates of Rs 6,652 crore.

The Ebitda margin remained flat at 7.58%.