Published
Apr 25, 2017
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Reliance Retail's pre-tax profit jumps 40% in FY17

Published
Apr 25, 2017

Reliance Retail, the retail division of Mukesh Ambani led Reliance Industries reported 40.4 percent jump 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 previous year, the company said in its earnings announcement.



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The revenues for full year for FY 17 grew by 60.2 percent year-on-year to Rs 33,765 crore from Rs 21,075 crore.

The company also reported growth of 65.6 percent in PBDIT at Rs 366 crore for the fourth quarter ending March 31, 2017 as compared to the same quarter last year at Rs 221 crore. The fourth quarter revenues grew by 83 percent year-o-year to Rs 10,332 crore, a milestone level for quarterly revenues, the company said in the report.

During the quarter, Reliance Retail added 63 stores across various store concepts. At the end of the year, Reliance Retail operated 3,616 stores across 702 cities with an area of over 13.5 million square feet.
 
In the fourth quarter, Reliance Market continued additions to its store network and launched a 50,000 sq ft store at Amritsar. Reliance Retail added 24 new Trends stores during the quarter and now operates 344 stores.

The Fashion and Lifestyle category delivered strong performance in the fourth quarter. Reliance Retail added 24 new Trends stores during the quarter and operates 344 stores, making it the largest fashion chain in the country, the company statement said.
 
During the quarter, Reliance Retail expanded its women wear fashion offering by launching Trends Woman, a store concept for shoppers looking for trendy, high-fashion and well-curated collections of Indian wear.
 
During the quarter, Reliance Jewels launched ‘Aavaran’, a first of its kind unique product aimed at enhancing women safety. The product has a technology embedded gold or silver pendant, which can alert up to 5 guardians with the press of a button, the company statement said.
 

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