Reliance Retail’s Q4 profits grows 77 per cent

For the fourth quarter Reliance Retail’s profit before depreciation, interest and taxes (PBDIT) rose 77 per cent. PBDIT for the financial year 2019 grew by 145.2 per cent year-on-year as against the previous year. Reliance Retail has become the first Indian retailer to cross more than 10,000 stores. It currently operates 10,415 retail stores in over 6,600 cities covering an area of over 22 million sq ft. Reliance Retail has added 510 stores during the fourth quarter and 2,829 stores during the entire fiscal year. The company’s growth momentum continued in the grocery consumption basket with strong like-for-like growth across Reliance Fresh, Smart and Reliance Market stores in the fourth quarter.

Reliance Retail, India’s largest retailer by revenue and profitability, has grown over 45 per cent annually for the last five years. For fiscal ’19, Reliance Retail added 81 new stores in the grocery consumption basket taking the total count to 612 Reliance Fresh, Smart and Reliance Market stores. During the year, Reliance Retail opened 76 new digital stores, 2,219 Jio stores and operates more than 8,000 digital and Jio stores put together. Reliance Retail has acquired all rights, titles, interest, trademarks and intellectual property for the brand John Players from ITC.