Home Market Reliance Retail Q1 pre-tax profit jumps over 3-fold to Rs 1,206 crore

Reliance Retail Q1 pre-tax profit jumps over 3-fold to Rs 1,206 crore

223
0
SHARE

NEW DELHI: Reliance Retail on Friday reported a more-thanthreefold jump in profit before depreciation, interest and tax (PBDIT) for the first quarter. The retail unit of Reliance Industries reported a ₹1,206 crore PBDIT for the three months through June, compared with ₹398 crore a year earlier.

Revenue more than doubled to ₹25,890 crore from ₹11,571 crore.

Rapid store expansion along with superior customer value proposition across all consumption baskets supported revenue growth, it said in a press release. Reliance Retail has now reach across more than 5,200 towns and cities, with 8,533 stores including 4,530 Jio Points, it added.

“Our consumer businesses continue to scale new highs and now account for nearly 21% of consolidated segment EBITDA. Retail business revenues have more than doubled and EBITDA has trebled on a Y-o-Y basis,” Reliance Industries chairman Mukesh Ambani said in the press release.

During the quarter, Reliance Market opened two new stores in Dankuni and Kolkata and launched own branded products across staples, luggage, disposables and stationary categories. Trends Woman has now expanded to 23 stores in 12 cities. Reliance Retail has now launched its first Trends Man store at Vijayawada in the past quarter, the company said.

Reliance Brands expanded its presence in the expectant mother and in the category for children by acquiring the Mothercare India business from DLF Brands.

Original Article

LEAVE A REPLY

Please enter your comment!
Please enter your name here