Reliance Retail Q2 revenue grows 27 per cent

Reliance Retail’s revenue grew 27 per cent during the second quarter. The company also added 337 stores in the quarter, taking its total count to 10,901 stores across 6,700 towns and cities. In terms of retail area, there was a 26 per cent growth. Reliance Retail gained from optimum customer value proposition, segmentation and a targeted strategy in the July-September period even as the consumer slowdown got worse.

This is the second straight quarter that Reliance Retail’s earnings before interest, tax, depreciation, and amortisation crossed Rs 2,000 crores. Along with the telecom venture Jio, Reliance Retail contributes nearly a third of Reliance’s earnings. The plan is to take the contribution of the two businesses to 50 per cent in the next few years.

Reliance Retail, India’s largest retailer, continues to bet on small-town growth. Reliance Retail, which began operations in 2006, is present across areas such as food and grocery, consumer electronics, fashion and lifestyle. It also has 516 petro retail outlets and 8,157 Jio sales points. In all, the company added 43 stores in food and grocery, 100 stores in consumer electronics, and 76 stores in fashion and lifestyle during the quarter. Also, Reliance Brands, which is part of Reliance Retail, has ventured to bring the American luxury jewelry retailer Tiffany to India.