Reliance Retail reports Q3 net profit at ₹1,830 cr
As per news reports, Reliance Retail Ventures Ltd reported a net profit of ₹1,830 crore for the December quarter, a sharp 88.1% sequential rise. The growth is being driven by near-double growth in fashion and lifestyle earnings, and continued benefits of cost-management initiatives.
With the restart of business across sectors, Indian economy is poised for a rapid recovery in 2021 after the pandemic-induced slowdown. As a result, Reliance Retail is confident of maintaining its industry leading and market beating performance.
Presently, stores in small cities are recovering faster and despite lower footfalls compared to pre-covid era. Fashion and lifestyle is expected to rebound sharply and cross pre-covid levels.