Reliance Retail on October 30 reported a 4.93 percent year-on-year decline in Q2 FY21 revenue at Rs 39,199 crore.
Operating profit margin fell 13.77 percent to Rs 2,009 crore.
Earnings before interest and tax (EBIT) was lower at Rs 1,522 crore, a fall of almost 25.36 percent.
Reliance Retail Ventures raised funds to the extent of Rs 7,500 crore in Q2 by issuing shares to SLP Rainbow Holding Pte (Silver Lake).
The subsidiary of the Reliance Industries (RIL) has raised Rs 37,710 crore in investments from a clutch of marquee investors such as Singapore’s sovereign wealth fund GIC, Abu Dhabi sovereign wealth fund Mubadala Investment Co, Silver Lake, KKR, TPG and General Atlantic.
During Q2, the firm acquired majority stake in digital pharma market place Netmeds for Rs 620 crore.
(This is a developing story please return back for more details)
Disclaimer: Reliance Industries is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol
