Reliance Retail Q2 profit up 31 percent

For the second quarter ended September 30, Reliance Retail saw a 31.34 percent jump in pre-tax profit. Reliance Retail is the retail arm of Reliance Industries. It reported a PBDIT (profit before depreciation and income tax) of Rs 201 crores in the same period of last financial year. Reliance Retail’s turnover jumped by 63.01 percent to Rs 8,079 crores during the July to September quarter of the current fiscal as against Rs 4,956 crores in the year-ago period.

The increase in turnover was led by growth in digital, fashion and lifestyle and petroleum products. The business delivered strong PBDIT of Rs 264 crores in the second quarter of 2016-17 as against Rs 201 crores in the corresponding period of the previous year. During the quarter, Reliance Retail added 59 stores across various store concepts, strengthened its distribution network for consumer electronics.

The firm runs formats like Reliance Fresh, Reliance Super and Reliance Hyper and operates 3,442 stores across 679 cities in India. Since its inception in 2006, Reliance Retail has grown to cater to millions of customers, and thousands of farmers and vendors. Reliance Retail serves over 3.5 million customers every week, and its loyalty program, Reliance One, has the patronage of more than 30 million customers.