Reliance Retail Q3 pre-tax profit soars 82% at Rs606 crore
New Delhi: Reliance Retail on Friday reported a 81.98% jump in its pre-tax profit at Rs606 crore for the third quarter ended December 2017.
The Reliance Industries’ retail arm had reported a profit before depreciation and income tax or PBDIT of Rs333 crore in the same period previous fiscal, the company said in a regulatory filing. Reliance Retail’s revenue in the quarter under review jumped over two-fold at Rs18,798 crore as against Rs8,688 crore in the year-ago period.
The company said improvement in kirana customer base, kirana delivery process, value proposition and customer strategy has helped Reliance market deliver robust performance during the period. “The stores offered unmatched breadth of product range with deep localisation and higher premiumisation to address the needs of diverse customer base,” it added.
During the quarter, Reliance Retail added 72 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 31 December 2017, the company operated 3,751 stores across 750 cities with an area of over 14.5 million square feet.