RIL Q2 FY21 sales rise 27.2% to ₹128,385 cr

02 Nov '20

2 min read

Pic: Ajio

Reliance Industries Limited (RIL), an Indian multinational conglomerate company, has reported 27.2 per cent revenue growth to ₹128,385 crore during the second quarter (Q2) FY21 that ended on September 30, 2020, compared to the revenue of ₹100,929 crore in Q1 FY21. Profit for the period grew 28.0 per cent to ₹10,602 crore (Q1 FY21: ₹8,282 crore).

“We delivered strong overall operational and financial performance compared to previous quarter with recovery in petrochemicals and retail segment, and sustained growth in digital services business,” Mukesh Ambani, chairman and managing director, Reliance Industries Limited said in a press release.

“Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country,” Ambani said.

Reliance retail revenues for the reported period grew 30 per cent to ₹41,100 crore (₹31,620 crore). With more stores being allowed to operate, fashion and lifestyle categories delivered strong sequential recovery with revenues up 3X over previous quarter, as reported in the release. In apparel and footwear, focused activation in-store saw conversions and bill values move up to record highs.

Ajio brand grew 4x in orders from pre-Covid levels. While, in the luxury and premium brands business, omni channel capabilities were ramped up, with digital commerce revenues up 3X over previous year.

Fibre2Fashion News Desk (JL)

More Reliance Industries Limited News... More Retail News - India...