Reliance Industries posts Rs 18,645 crore profit in Q3 FY26; GDR slips 2%
After the company announced its December quarter results, its Global Depository Receipt (GDR) slipped by around 2% to $64.40 on the London Stock Exchange (LSE).
After the company announced its December quarter results, its Global Depository Receipt (GDR) slipped by around 2% to $64.40 on the London Stock Exchange (LSE).
The company informed the exchanges that the composite scheme of arrangement involving its group companies has become effective from December 1.
The launch strengthens Reliance Retail’s affordable, global beauty offerings and will see Essence products sold through the company’s omni-channel network.
Earlier, Reliance had stated that the reorganisation will help the consumer brands business grow faster with a sharper focus and its own management.
Reliance Retail’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) from operations increased by 16.7 per cent to Rs 6,624 crore.
The deal, which was announced on August 29, 2020, has already received clearance from regulators such as CCI, SEBI and bourses, and the scheme of arrangement is now awaiting the nod from the NCLT and shareholders.
During the quarter, grocery business and electronics stores sustained double-digit growth, while the fashion and lifestyle business delivered a strong rebound, surpassing the pre-COVID levels.
1. Urban Ladder was co-founded by Ashish Goel (CEO) and Rajiv Srivatsa (COO) in July 2012. 2. The investment had valued RRVL at a pre-money equity value of Rs 4.587 lakh crore.
Sector experts too are of the view that if the acquisition of the company does not go through, then it may have to wind up its operations or go for bankruptcy.
The arbitration panel, in an interim order, has directed the Kishore Biyani-led Future Group not to proceed with the deal with Reliance Retail for now.
