Reliance Retail Q1 Results: Net profit rise 114% while revenue expand 54%

Reliance NSE 0.68 % Retail’s net profit rose 114% in the first quarter while revenue expanded 54% driven by a strong performance from stores in the first quarter without any operating disruptions since the onset of Covid

Reliance’s retail division, which runs over 15,866 stores across groceries, consumer electronics and apparel, posted revenues of Rs 51,582 crore in the three months to June, with net profit at Rs 2061 crore. The company said consumer spending got a boost as families indulged in leisure activities, socializing, festivities and shopping as the pandemic situation improved though sentiments remained cautious due to inflationary concerns.