The Mukesh Ambani-led Reliance Retail on Friday reported an 82% jump in profit before depreciation, interest and taxes (PBDIT) to Rs 606 crore for Q3FY18, driven by improved performance across formats. Revenues for Q3FY18 grew 116.4% from a year ago to Rs 18,798 crore. Reliance Fresh and Reliance Smart stores offered product ranges with deep localisation and higher premiumisation to address the needs of a diverse customer base, the company said in a statement. Reliance Retail added 72 stores in October-December and at present operates 3,751 stores across 750 cities with an area of over 14.50 million sq ft and 479 petro outlets as on December 31. During the quarter, Reliance Market, the company’s cash-and-carry brand, launched its 43rd store in Mysore. Improvement in kirana customer base, kirana delivery process, value proposition and customer strategy has helped Reliance Market deliver robust performance during the period. Reliance Market introduced several stock keeping units (SKUs) under its own brands — Home One, Graphite and RelGlow — spanning housewares, luggage and hard line categories, among others.
Reliance Digital retained its market leadership in consumer electronics retailing during Q3FY18. Strong value proposition, delivery and installation capabilities, exclusive product assortments and regional focus has helped it outpace market growth across all key product categories. At present, the company operates over 2,000 Digital and Jio stores in over 750 cities, the statement said. Reliance Trends crossed 400 stores during the quarter with 25 new store additions in Q3. It has the largest presence in the country among fashion retailers with 419 stores present across 213 cities in 28 states.
Reliance Retail further strengthened its presence through its partnerships during this period. The JV with Marks and Spencer added 5 new stores in the quarter with its reach extending to 24 cities through 63 stores. Reliance Brands opened 22 new stores led by Hamleys, Superdry and Scotch & Soda.
Project Eve, the differentiated experiential store concept, rolled out 3 more stores during Q3 and continues to gain strong customer traction. AJIO, the company’s online fashion store, witnessed rapid growth in consumer acceptance with traffic doubling, number of orders growing three times and the active customer base swelling by over 60%, as compared to the same quarter last year. AJIO has extensive physical presence in over 190 Reliance Trends stores and delivers to more than 12,000 pin codes across the country, the company statement said. Reliance Jewels, the retail jewellery arm, launched its second designer collection under the name “ASYA”, which is inspired by the noble bird HAMSA (or SWAN).