Reliance Retail Q3 pre-tax profit up 7% at Rs 243 crore

Reliance Industries' retail arm Tuesday reported a 7 percent increase in pre-tax profit at Rs 243 crore for the December quarter.

PTI| Last Updated: Jan 19, 2016, 18:40 PM IST

New Delhi: Reliance Industries' retail arm Tuesday reported a 7 percent increase in pre-tax profit at Rs 243 crore for the December quarter.

Reliance Retail had reported a PBDIT (profit before depreciation and income tax) of Rs 227 crore in the same period last fiscal.

The turnover in the quarter under review went up by 28.9 percent at Rs 6,042 crore as against Rs 4,686 crore in the year-ago period, Reliance Industries said in a regulatory filing.

"Reliance Retail continued its growth momentum and achieved significant milestones in the quarter.

"Reliance Retail posted highest-ever quarterly turnover of Rs 6,042 crore during the third quarter as against Rs 4,686 crore during the same period last year, registering a growth of 29 percent," the company said.

Reliance Retail said it launched several private label products under various grocery and general merchandise categories during the quarter, leading to private labels sales contribution in overall sale increasing from 8.6 percent in the same period last year to 14.6 percent in the quarter under review.

The firm runs formats like Reliance Fresh, Reliance Super and Reliance Hyper and operates 3,043 stores across 371 cities in India.