Mukesh Ambani-led Reliance Retail on Friday reported a heady 209% year-on-year increase in Q4FY18 profit before depreciation, interest and taxes (PBDIT) to Rs 1,086 crore. Revenues grew 134% year-on-year to Rs 24,183 crore in Q4FY18, driven by an over 30% expansion in retail space.
Reliance Retail expanded its store network across the country, and across formats. It added 86 stores in Q4-FY18 across various store concepts and strengthened its distribution network for consumer electronics. On March 31, 2018, the company had 3,837 stores operational across 750 cities with an area of over 17.7 million square feet.
Rapid expansion for Reliance Trends continued with 39 new stores opening during the quarter. Trends has added over 100 stores during the year with nearly 1 million sq ft of retail space. This is the largest expansion by a fashion retailer in India in a year. Trends is a leader in fashion apparel with 458 stores across 223 cities in 28 states.
Reliance Brands opened seven stores during 4Q FY18 and 38 stores during FY18 led by Hamleys, Superdry and Scotch and Soda. Hamleys opened its 50th store in India and operates 51 stores, making it the largest toy chain in India. The portfolio of brands (like Armani, Canali and Michael Kors) under Genesis Luxury Fashion also continued to expand and operate 59 stores as on March 2018.
Reliance Fresh and Smart added 11 stores during 4Q FY18. With net addition of 23 stores during FY18, Reliance Retail now operates 513 Fresh and Smart stores. Reliance Retail also got a contract through a tender process to support fair price shops across 10 districts in Andhra Pradesh.
This is a voluntary programme facilitated by the government of Andhra Pradesh; the company has contracted for over 700 fair price shops and operationalised 41 shops during the quarter. Reliance Market, the wholesale format, added four new stores in Kolkata, Jalandhar, Patiala and Nizamabad during 4Q FY18.
Reliance Digital too witnessed strong growth during the quarter and is focusing on creating personalised experience zones to allow customers to touch, play, feel and explore the latest technology and products across its stores. Reliance Digital and Jio stores added 20 stores during 4Q FY18.
With net addition of 40 stores during FY18, Reliance Retail now operates over 2,000 Reliance Digital and Jio stores. Reliance Retail has operationalised 3,736 Jio Points in over 3,700 towns. These towns are key feeder markets and would provide access to untapped semi-urban and rural market for Reliance Digital, the company statement said.
For the fiscal ended March 31, 2018, Reliance Retail posted a PBDIT growth of 114% to Rs 2,529 crore. Revenue grew 105% to Rs 69,198 crore, the company said in a statement.