Reliance Retail's Q1 turnover up 14.5% to Rs 3,999 cr

Tags: News
Reliance Industries Ltd today said its retail arm reported 14.5 per cent increase in turnover at Rs 3,999 crore in the first quarter ended June 30, 2014-15.

It 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, the company said: "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.

EDITORIAL OF THE DAY

  • RBI must now educate investors on the benefits of debt market

    It is uncommon for the central bank to act on a policy decision within a week of submission of a specialist report.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Japan needs more women in high office

Japan does not rank high in international tables, when it ...

Kuruvilla Pandikattu

Giving up faith is a complex act

We have met many people who have given up religion ...

Shona Adhikari

Belated recognition of women in America's modern art movement

This week we focus on a very important exhibition that ...