Reliance Retail now a Rs 34,000 crore business
The Retail business of Reliance Industries, Reliance Retail has reported an increase of 65.6% in profit before depreciation, interest and tax (PBDIT) to Rs 366 crore for the quarter ended March 31, against Rs 221 crore in the same period last financial year.
The revenue of the company for the whole year was Rs 33,765 crore, increasing by 60.2%, as compared to the previous year, mentioned a national news portal.
Reliance Market and Reliance Trends are the two most profitable formats of the company’s retail business. Reliance Market is continuing to strengthen its store network and Reliance Retail is also adding new trends stores.
The company’s rival Aditya Birla Retail also runs a retail business under the brand ‘More’, which is struggling to earn good revenues, unlike retail business of Reliance Industries, whose turnover is led by growth across all consumption baskets, said a market analyst.