Reliance Retail registers significant profit

Dec quarter sales up by 38 percent

Reliance Retail's revenue increased by 38 percent to Rs 3,927 crore in the third quarter ended December 31, 2013. During the last fiscal, the company has churn out the turnover of Rs 2,839 crore.

The retail business achieved Rs 106 crore profit before depreciation, interest and taxes (PBDIT) in the October-December period of the ongoing fiscal. Its PBDIT stood at Rs 271 crore for the nine-month period i.e April-December, 2013.

In an official release the company has stated, "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".

Reliance Retail currently has 1,577 stores across 141 cities in India as on December 31, 2013.