Published
Jan 19, 2020
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Reliance Retail Q3 profit rises 62 percent to Rs 2,727 crore

Published
Jan 19, 2020

Reliance Retail reported a 62 percent jump in its pre-tax profit at Rs 2,727 crore ($384 million) for the third quarter ended December 31, 2019, as against Rs 1,680 crore in the reported in the same quarter a year ago.
 

Reliance Retail Q3 profit rises 62 percent to Rs 2,727 crore - Genesis Luxury


The company’s revenue from the organised retail segment during the quarter grew 27 percent at Rs 45,327 crore, as against Rs 35,577 crore in the corresponding period last fiscal.
 
The growth in revenue and profit was attributed was led by the fashion, lifestyle and electronics segments.

Commenting on the results, RIL chairman and managing director Mukesh Ambani in a statement said: "I am pleased with the progress of our consumer businesses, which continue to establish new milestones every quarter. We saw consistent same-store sales growth and record footfall across our stores driven by our compelling proposition of great shopping experience and superior value."
 
"Across the consumption baskets, the performance was broad-based with consumer electronics, fashion and lifestyle, and grocery, all delivering strong double-digit growth. The fashion and lifestyle category delivered a strong performance in a relatively weak market,” he added.
 
During the quarter, Reliance Retail added 456 stores, taking the total store count to 11,316 stores. Its stores the in fashion & lifestyle segment crossed 2000 stores during the third quarter.

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