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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.


PTI Last Updated at 27 Jul 2018, 21:07 IST India

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.

Revenue from RIL's organized retail segment during the quarter under review grew over two-fold to Rs 25,890 crore as against Rs 11,571 crore in the corresponding quarter of the last fiscal.

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."

According to the company, "robust growth in consumer businesses" provided a further boost to its revenues, which was up 56.5 percent at Rs 141,699 crore.

"Rapid store expansion along with superior customer value proposition across all consumption baskets supported revenue growth," the company said.

Reliance Retail has now reached across over 5,200 towns and cities, with 8,533 stores, including 4,530 Jio Points.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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