Reliance Retail pre-tax net profit at Rs 99 cr, revenue up 20% to Rs 4,167 crore

Reliance Retail, the largest player in the organised retail space by revenue, on Monday reported Rs 99 crore pre-tax profit on an income of Rs 4,167 crore.

During the year-on-year period, its revenue stood at Rs 3,470 crore, which rose 20 per cent in the reporting quarter to Rs 4,167 crore, group chief financial officer Alok Agarwal told reporters in Mumbai while announcing the Group's earnings.

In the first quarter of this fiscal, the company had reported a 14.5 per cent increase in turnover to Rs 3,999 crore. The company had not disclosed the standalone profit numbers in the first quarter, but had said they would close the full year in net profit.

For the first time since Reliance Retail was set up in 2006, the company reported a pre-tax profit of Rs 363 crore in FY14 on the back of a 34 per cent rise in its revenue to Rs 14,496 crore.

The company which operates multi store formats like hypermarts, fashion, retail, electronics et al, added 283 stores in the quarter and has invested a little less than Rs 1,000 crore during the reporting period, group deputy chief financial officer V Srikanth said.

This takes its total store count to 2,006 spanning over 150 cities at the end of the quarter with over 12 million sqft of retail space, he added.

Asked about sales, Srikanth said it reported over 25 per cent growth in the quarter, but expressed optimism that for the full fiscal the company could be able to better sales numbers on the back of the improved economic conditions and expect sales to clip at 30-35 per cent.