New Delhi, Oct 13 (PTI) Reliance Retail today reported a68.2 per cent jump in its pre-tax profit at Rs 444 crore forthe second quarter ended on September 30, 2017.
The Reliance Industries' retail arm had reported a PBDIT(profit before depreciation and income tax) of Rs 264 crore inthe same period of 2016-17 fiscal.
Reliance Retail's turnover in the quarter under reviewwent up by 81.3 per cent at Rs 14,646 crore, as against Rs8,079 crore in the year-ago period.
"Our retail business has delivered broad based,sustainable and profitable growth through improved operationalexcellence," Reliance Industries Chairman and ManagingDirector Mukesh D. Ambani said.
The company said the increase in retail business'turnover was led by growth in digital, fashion & lifestyle andpetroleum products.
"During the quarter, Reliance Retail added 45 storesacross various store concepts and strengthened itsdistribution network for consumer electronics," it added.
Reliance Retail now operates 3,679 stores across 750cities in India.
In the second quarter of this fiscal, Reliance Retailacquired 40 per cent stake in Genesis Luxury Fashion Pvt Ltd,which operates a rich portfolio of brands such as Armani,Burberry, Coach, Michael Kors and many others.
RIL also acquired equity stake in Balaji Telefilms'sover-the-top subscriber video- on-demand platform ALTBalaji.
"This investment in content production (including digitalcontent) is in line with RIL's commitment to invest and growin digital and media businesses," the company said. PTI SVKMR.
This is unedited, unformatted feed from the Press Trust of India wire.