Reliance Retail Q3 sales up 19 per cent at Rs 4,686 crore
Revenue declined 20.4% year-onyear to Rs 96,330 crore in the third quarter of 2014-15, reflecting the steep fall in benchmark oil prices.
The company, a part of Reliance Industries Ltd, had a turnover of Rs 3,941 crore during the same period of last fiscal.
It reported a turnover of Rs 12,852 crore for the first nine months of the current financial year, a growth of 17.9 per cent compared with Rs 10,903 crore in the corresponding period last year.
"During the quarter, Reliance Retail registered Y-o-Y growth of 19 per cent in turnover with improved margins and profitability," Reliance Industries Chairman and Managing Director, Mukesh Ambani said in the statement announcing the results.
Reliance Retail posted its highest ever profit before depreciation, interest and taxes (PBDIT) in the October- December quarter at Rs 227 crore, an increase of 114 per cent on a year-on-years basis.
According to the company: "The value formats added 15 new Reliance Fresh stores to its network in the quarter and further consolidated its position as the largest grocery retailer in the country."
During the quarter, Reliance Trends crossed the milestone of operating stores in over 100 cities thereby extending its reach to fashion seeking customers.
"Reliance Retail grew its presence through its partnerships during this period. Its partnerships with Marks and Spencer and Grand Vision continued expansion and witnessed strong sales growth from existing stores," the company said.
Reliance Retail had 2,285 stores in India as on December 31.