Reliance Retail posts over 3-fold jump in pre-tax profit at Rs 1,069 cr

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 organised 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 per cent 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."