Reliance Retail Q3 pre-tax profit soars 82% at Rs 6.06 billion

Reliance Retail today reported a 81.98 per cent jump in its pre-tax profit at Rs 6.06 billion for the third quarter ended December 2017.

The Reliance Industries' retail arm had reported a PBDIT (profit before depreciation and income tax) of Rs 3.33 billion in the same period previous fiscal, the company said in a regulatory filing.

Reliance Retail's revenue in the quarter under review jumped over two-fold at Rs 187.98 billion as against Rs 86.88 billion in the year-ago period.

The company said improvement in Kirana customer base, Kirana delivery process, value proposition and customer strategy has helped Reliance market deliver robust performance during the period.

"The stores offered unmatched breadth of product range with deep localisation and higher premiumisation to address the needs of diverse customer base," it added.

During the quarter, Reliance Retail added 72 stores across various store concepts and strengthened its distribution network for consumer electronics.

As on December 31, 2017, the company operated 3,751 stores across 750 cities with an area of over 14.5 million square feet.