Reliance Retail posted a pre-tax profit of Rs 2,049 crore for the quarter ended June, year-on-year growth of nearly 70 per cent as it reaped benefits of scale.
Along with Jio, Reliance Retail contributed 32 per cent to RIL’s consolidated earnings before interest tax depreciation and amortisation (Ebitda) for the quarter, it said on Friday. Reliance Retail’s revenue grew nearly 48 per cent year-on-year to Rs 38,196 crore during the quarter, bucking the slowdown trend in the market. The company also added 265 outlets in Q1, taking its total count to 10,644 stores across 6,700 towns and cities at the end of the June quarter.
In terms of retail area, the company covers 23 million sq ft in Q1, growth of nearly 24 per cent from a year ago. In a statement, RIL CMD Mukesh Ambani said Reliance Retail gained from optimum customer value proposition, segmentation, and a targeted strategy in the first quarter.