Reliance Retail has reported a 14.5 percent increase in turnover at Rs 3,999 crore in the first quarter ended June 30, 2014-15, according to PTI. The company had a turnover of Rs 3,492 crore in Q1, 2013-14.
“Reliance Retail recorded strong profitability and continued growth momentum in the first quarter of the current financial year. Gross margin improvement, strong variable expense control and leverage of fixed expenses contributed to the performance,” the company said in a statement.
Giving growth outlook for future, Reliance Retail mentioned: “Underlying growth and outlook in core sectors continues to be robust despite regulatory conditions affecting the Jewelry sector and a difficult consumer environment.”
During the quarter, Reliance Brands announced a partnership with BCBG MAX Azria Group, Inc. to bring in India, an international womenswear brand, the company added.
RIL’s retail business now operates 1,723 stores across 148 cities in India.