Reliance Retail has been flying high by registering a hike in its profit percentage by 21.2 per cent in the first quarter. The retail arm of Mukesh Ambani’s Reliance industries has reported a surge of Rs 240 crore Profit Before Depreciation, Interests and Tax (PBDIT) in the first quater ending June 30 of the financial year 2017.
As compared to previous year, the company has managed to pump Rs 240 crore profit against its last year’s 198 crore. In its official statement, company said that the PBDIT increased to Rs 240 crore as against Rs 198 crore in the corresponding period of the previous year. Revenues in the first quarter of financial year 2017 grew by 45.8 per cent year-on-year to Rs 6,666 crore from Rs 4,752 crore. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products.
However, it further stated that 138 stores across various store concepts, strengthened its distribution network for consumer electronics and enhanced omni commerce channel offerings by launching www.footprint360.com.