The retail business revenues rose 83% yoy for the fourth quarter at Rs 10,332 crore, the highest quarterly growth
The retail business of Reliance Industries Ltd (RIL) reported a 60.2% increase in revenues year on year (yoy) for the full fiscal 2016-17 at Rs 33,765 crore.
Profit before depreciation, interest and tax (PBDIT) for the retail business grew 40.4% yoy at Rs 1,203 crore in fiscal 2017.
The retail business revenues rose 83% yoy for the fourth quarter at Rs 10,332 crore, the highest quarterly growth. The March quarter PBDIT jumped 65.6% yoy to Rs 366 crore. During fiscal 2017, the company added 371 with 63 stores opened in the fourth quarter. This takes the total number of operational stores to 3,616 across 702 cities with an area of over 13.5 million square feet.
Reliance Retail is the largest consumer electronics chain in the country with 1,996 Reliance Digital and Jio stores. The company also added 35 petro outlets (fuel retailing was merged with organised retail in July 2016), taking the total to 448 operational outlets. Digital and fuel retail contributed significantly to the revenue growth of the retail business.
Strengthening market share and improving sales and process efficiencies, the company consolidated its network of Reliance Fresh and Smart stores in core cities. The largest operator of cash and carry chain with presence across 37 cities, the company launched a 50,000 sq ft Reliance Market store at Amritsar.
The fashion and lifestyle category saw an addition of 24 new Reliance Trends stores in the fourth quarter, taking the total to 344 stores. The company launched www.reliancetrends.com in this quarter allowing customers to get products delivered at their doorstep. Expanding its women wear fashion offering, the retailer launched a concept store called Trends Woman.
"As part of 2.0 initiatives, Ajio (the company's e-commerce platform) launched kids wear during the quarter and rolled out various features such as IMPS, EMI, automated refunds among other initiatives to enhance the consumer experience," the company said in a statement.
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