Reliance Retail has the highest quarterly turnover in Q3

Reliance Retail has had the highest ever quarterly turnover of Rs 6,042 crores during the third quarter. Last year, during the same period it recorded a turnover of Rs 4,686 crores, thus registering a growth of 29 per cent. As per reports, the business has delivered PBDIT of Rs 243 crore in Q3FY16 as against Rs 227 crore in the same period in the previous year.

In order to ensure increased profitability, Reliance Retail optimised its network operations and also introduced several private label products in the general and grocery merchandise categories in the quarter. The private label sales added to the total sales increasing it to 14.6 per cent from 8.6 per cent. The consumer electronics category registered a growth in excess of 50 per cent year-on-year. Nearly 1,537 stores are being operated which cater to consumer electronics.

Moreover, Reliance Market stores have a huge network spreading across various cities. It has 2 million registered members across 37 cities. This network continued to grow during the quarter. Also, the various partnerships of Reliance Retail were strengthened during this period. Marks & Spencer continued to add more stores while Hunkemoller, a Dutch lingerie brand was launched by Reliance Retail.

Continuing with its expansion plans, Reliance Industries (RIL) is now gearing up to launch its fashion portal. It will have the largest collection of private labels for women with 60 per cent exclusive product range. The collection will be a combination of national, international and Indie (ethic fusion) brands. It will be targeting consumers in the age group 18-34 years.