Our Bureau Reliance Retail has more than doubled its revenue for the quarter ended September 30, 2018, at a whopping ₹32,436 crore. It is a 121 per cent growth from the ₹14,646 crore recorded in Q2 of FY18.

The profits before depreciation, interest and taxes (PBDIT) jumped 214 per cent to ₹1,392 crore (₹444 crore).

“Our commitment to create consumer value is gathering momentum, with the robust scale-up of India-centric consumer-facing businesses. The financial performance of both Retail and Jio reflect the benefits of scale, technology and operational efficiencies. Retail business EBITDA has grown three fold on a YoY basis,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd.

The diversified behemoth has attributed the huge growth in its retail segment to the accelerated store expansion, strong value proposition and focus on customer experience across all consumption baskets.

The retail segment received footfalls of over one crore, showing 30 per cent YoY growth, during the Independence Day sale. Its grocery stores, led by Reliance Fresh and SMART, witnessed strong growth backed by new store expansion and volume growth in existing stores.

The company opened 15 new SMART stores and five new Fresh stores during the quarter. With that the total number of stores under these two brands stand at 523 stores across 100 cities, according to the company. Reliance Trends, its fashion store, crossed the milestone of 500 stores during the quarter.

In all, Reliance Retail operates 9,146 stores with an area of over 19.50 million sq ft and 512 petro outlets.

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