Reliance Retail’s Q4 income jump 52 percent to Rs 36,663 crore
today Apr 22, 2019
Mukesh Ambani-led Reliance Industries Ltd (RIL) retail arm Reliance Retail’s witnessed 52 percent rise in its revenue for the fourth quarter ended March 2019 to Rs 36,663 crore (approx $5.25 billion) as against Rs 24,183 crore in the corresponding period of the previous year.
The profit before depreciation interest and taxes (PBDIT) for the retail business grew 77 percent to Rs 1,923 crore as against Rs 1,086 crore in the corresponding period of the previous year.
For the financial year 2018-19, Reliance Retail’s revenue rose 89 percent to Rs 130,556 crore as compared to Rs 69,198 crore in the reported in the previous fiscal year. The company’s PBDIT for FY19 grew by 145 percent to Rs 6,201 crore as against Rs 2,529 crore in the previous year.
Commenting on the results, Mukesh Ambani, chairman and managing director, Reliance Industries Limited, in a statement said, "During 2018-19, we achieved several milestones and made significant strides in building Reliance of the future. Reliance Retail crossed Rs 100,000 crore revenue milestone. The company has delivered record consolidated net profit for the year and I am delighted to highlight that our company has more than doubled its PBDIT in last five years.”
"Focus on service and customer satisfaction led to higher numbers of subscribers and footfalls across our consumer businesses, driving robust revenue growth. Our endeavour is to create better experiences for our customers, leading to a better shared future," added Ambani.
During the fourth quarter, Reliance Retail also acquired all rights for the fashion apparel brand ‘John Players’ from ITC Limited.
The company’s store sales growth for fashion and apparel was at 25 percent. Reliance Retail added 510 stores during Q4FY19 and 2,829 stores during the financial year.
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