Reliance Retail's Q1 profit drops 14% YoY but revenue rises 8%

Reliance Retail reported a 14 percent year-on-year drop in Q1 profit even as gross revenue rose 7.4 percent to 90,408 crore. EBITDA margin held flat sequentially at 7.9 percent versus 8.7 percent a year ago, under pressure for the third straight quarter due to higher fixed costs from e-commerce and digital investments. Management guided that retail margins will remain under pressure over the next few quarters, with a three-year objective to double operating EBITDA through growth and better economics.