Reliance Retail’s Q1 pre-tax profit jumps 21% to Rs 240 crore

Reliance, Reliance Jio, Reliance Jio 4G launch, SRK, Reliance Jio 4G for employees, tech news, technology

Reliance Retail, the retail arm of Reliance Industries, on Friday reported a 21.21 per cent increase in its pre-tax profit at Rs 240 crore for the first quarter ended June 30.

Reliance Retail had reported a PBDIT (profit before depreciation and income tax) of Rs 198 crore in the same period last fiscal.

Reliance Retail’s turnover jumped by 45.80 per cent to Rs 6,666 crore in the quarter under review as against Rs 4,572 crore in the year-ago period, Reliance Industries said in a regulatory filing.

“The increase in turnover was led by growth in digital, fashion and lifestyle and petroleum products. The business delivered strong PBDIT of Rs 240 crore in first quarter 2016-17 as against Rs 198 crore in the corresponding period of the previous year,” Reliance Industries said in a BSE filing.

During the quarter, Reliance Retail added 138 stores across various store concepts, strengthened its distribution network for consumer electronics and enhanced omni commerce channel offerings by launching

The firm runs formats like Reliance Fresh, Reliance Super and Reliance Hyper and operates 3,383 stores across 679 cities in India.