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Reliance Retail Dec quarter revenue up 38% at Rs 3,927 cr

Aided by increased shopping activities in the festive season, Reliance Retail posted a 38% growth

Aided by increased shopping activities in the festive season, Reliance Retail posted a 38% growth in revenues at R3,927 crore during the third quarter ended December 31, against R2,839 crore posted in the same period last year.

The company, which is a part of the Mukesh Ambani-led Reliance Industries, clocked revenues of R10,857 crore in the first nine months of the fiscal against R7,749 crore in the corresponding period of the previous year ? a growth of 40%.

The retail business achieved R106-crore profit before depreciation, interest and taxes (PBDIT) in the quarter and R271 crore in the nine months. Besides, the business recorded a like-for-like (LFL) growth of up to 21% across various format sectors. LFL refers to growth of sales in stores that existed in the previous year and not counting new store sales.

Value formats sustained the growth momentum to maintain leadership position in the grocery retail business while Reliance Market, the cash and carry format continued its rapid geographical expansion and crossed a significant milestone of 1 million registered members. Further, the company discontinued its non-vegetarian food retail format, ?Delight?, during the quarter.

?Our retail business continues on its rapid growth trajectory with 38% revenue growth during the quarter,? said Mukesh D Ambani, chairman and MD, Reliance Industries.

The Fashion and Lifestyle sector delivered accelerated performance in the quarter while the digital sector continued its expansion drive and achieved a distinction of crossing 200 stores.

?Given the macro environment challenges in the jewellery sector, Reliance Jewels focused on consolidating the operations of its existing stores to improve performance against various operational parameters that would result in building a robust platform for growth in the coming years,? said a company statement on Friday.

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First published on: 18-01-2014 at 05:05 IST
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