Reliance Retail Q3 revenues rise 89%

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Mumbai | Published: January 18, 2019 4:44:21 AM

Reliance Retail's revenue for the third quarter ended December 31 grew by 89.3 % year-on-year to Rs 35,577 crore.

reliance, reliance retailThe company also reported a jump of 177.2% in profit before depreciation, interest and taxes (Pbdit) at Rs 1,680 crore this quarter. The company had reported a Pbdit of Rs 606 crore a year ago.

Reliance Retail’s revenue for the third quarter ended December 31 grew by 89.3 % year-on-year to Rs 35,577 crore.

The company attributed the growth in the organised retail segment to healthy festive season sales and new store openings. V Srikanth, joint chief financial officer of RIL, said, “Consumer business contributes 25% to our ebitda and now it is a very strong percentage of our aggregate numbers.”

The earnings before interest and taxes (ebit) for the quarter under review showed an increase of 210% y-o-y to Rs 1,512 crore from Rs 487 crore a year ago.

The company also reported a jump of 177.2% in profit before depreciation, interest and taxes (Pbdit) at Rs 1,680 crore this quarter. The company had reported a Pbdit of Rs 606 crore a year ago.

“We are now present in more than 6,500 towns and cities and have 9,907 outlets, with almost 21 million sq ft of area. We also saw strong footfalls in this quarter. So on combined basis, the total number of footfalls in our retail stores was 139 million,” Srikanth said.

The festive season of Diwali alone saw 5.7 crore of footfalls in its stores, which is an increase of 25% in comparison to the diwali during last year.

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During this quarter, the company added 10 new Reliance Smart stores, which is a new-age supermarket for grocery, home care, personal care and general merchandise shop and seven Reliance Fresh stores that offers fresh grocery.

Reliance Trends, the lifestyle and fashion store, accelerated its growth with 100 new stores being launched during this quarter. The consumer electronics retail chain, Reliance digital opened 21 new stores and 640 Jio stores in this quarter. With such robust growth, Reliance Retail saw an increase of 761 stores and has an area of 20.6 million sq ft in the quarter ended December 31,2018.

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