Reliance Retail profit jumps 31%

Its revenues grew 63% from Rs 4,956 crore in Q2 of FY16 to Rs 8,079 crore in Q2 FY17

Reliance Retail posted a 31 per cent jump in its profit before depreciation interest and tax (PBDIT) in the second quarter of FY17 at Rs 264 crore up from the Rs 201 crore in the corresponding quarter of FY16. 

Its revenues grew 63 per cent from Rs 4,956 crore in Q2 of FY16 to Rs 8,079 crore in Q2 FY17. The increase in turnover is led by growth in digital, fashion & lifestyle and petroleum products, it said. 

RIL said Reliance Petro Marketing, a wholly owned subsidiary of Reliance Retail has expanded the network of petrol retail outlets with 29 new outlets operationalised during the quarter.

It said Reliance Smart, the destination supermarket store concept has been successfully re-launched at 60 stores and is receiving overwhelming response from its customers with high-double digit like for like growth. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics.