Reliance Retail, retail arm of Reliance Industries Ltd. (RIL), has announced 40.4 per cent increase in profit before depreciation, interest and taxes (PBDIT) for the financial year 2016-17 at Rs. 1,203 crore as compared to Rs. 857 crore in the corresponding period last year.
The retailer noted a 60.2 per cent year-on-year increase to Rs. 33,765 crore from Rs. 21,075 crore in terms of revenue for the financial year 2016-17. Its PBDIT also noted 65.6 per cent increase at Rs. 366 crore for the fourth quarter ended March 31, 2017 as compared to the corresponding period last year at Rs. 221 crore.
Reliance Retail’s fourth quarter revenues grew by 83 per cent year-to-year to Rs. 10,332 crore. With addition of 63 stores across various store concepts during fourth quarter of this year, the retailer now operates a total of 3,616 stores across 702 cities. Reliance Retail added 24 new Trends stores during the quarter and now operates 344 stores.
Also Read – Reliance Retail: Pre-tax profit up 31.34%
In the fourth quarter, it also expanded its womenwear fashion offering by launching Trends Woman. Reliance Market too continued additions to its store network and launched a 50,000 sq. ft. store at Amritsar, Punjab.
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