Reliance Retail's Q1 turnover up 14.5% to Rs 3,999 cr
Jul 19 2014 , New Delhi
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.