Reliance Retail reports 31.34 pc increase in pre-tax profit

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Reliance Retail today reported 31.34 per cent increase in its pre-tax profit to Rs 264 crore for the second quarter ended September 30.
The retail arm of Reliance Industries Ltd (RIL) had reported a PBDIT (profit before depreciation and income tax) of Rs 201 crore in the same period of last financial year.
Reliance Retail’s turnover jumped by 63.01 per cent to Rs 8,079 crore during the July-September quarter of the current fiscal as against Rs 4,956 crore in the year-ago period, RIL said in a regulatory filing.
“The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. The business delivered strong PBDIT of Rs 264 crore in second quarter of 2016-17 as against Rs 201 crore in the corresponding period of the previous year.
According to a PTI report: During the quarter, Reliance Retail added 59 stores across various store concepts, strengthened its distribution network for consumer electronics.
The firm runs formats like Reliance Fresh, Reliance Super and Reliance Hyper and operates 3,442 stores across 679 cities in India.

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