Reliance Retail reports profit of INR 1069 cr for its Q1
Reliance Retail today reported an over three-fold jump in its pre-tax profit at Rs 1,069 crore for the first quarter ended June 30, 2018.
The retail arm of Reliance Industries Ltd (RIL) had posted a PBDIT (profit before depreciation, interest and tax) of Rs 292 crore in the April-June period a year ago.
RIL Chairman and Managing Director Mukesh Ambani said: "Our consumer businesses continue to scale new highs and now account for nearly 21 percent of consolidated segment EBITDA. Retail business revenues have more than doubled and EBITDA has trebled on a Y-o-Y basis."
He further said, "scalability of our consumer business platforms is driving unprecedented value generation for our customers, our country, and our shareholders."
"Rapid store expansion along with superior customer value proposition across all consumption baskets supported revenue growth," the company said.
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