Reliance Retail, a subsidiary company of Mukesh Ambani-led Reliance Industries, has undergone a 4.3 per cent sequential decline in revenue of the 4th quarter ending March, 2016 at Rs 5,781 cr, unveiled the company in its earnings announcement. The company posted a revenue of Rs 6, 042 cr in the 3rd quarter of FY16.
The revenue of the Reliance Retail scaled by 21 per cent y-o-y against Rs 4,788 cr during the same period last year. Earnings before interest and taxes (EBIT) for the quarter stood at Rs 131 cr, up 26 percent y-o-y while profit before depreciation, interest and taxes (PBDIT) for Q4 FY16 was Rs 235 cr, up 17.5 per cent y-o-y.
For FY16, Reliance Retail secured a turnover of Rs 21,612 cr against Rs 17,640 cr during the same period last year, registering an increase of 22.5 percent, said the company.
Commenting upon the same, Mukesh Ambani, Chairman & MD, Reliance Industries said that Reliance Retail continued its path of profitable expansion while maintaining a robust revenue growth of 23 percent during the year.
Revenue compound annual growth rate (CAGR) over the last five years has been somewhere around 29 per cent, claims the company.
Reliance Retail added 624 stores translating into a store opening rate of 12 stores per week in FY16. Reliance Market the Cash and Carry stores of Reliance Retail now has around 2 million registered member partners, said the company. Reliance Retail added 70 Reliance Trends stores during the year taking the store count to 271 stores.