Reliance Retail books “strong” Q4 performance
- Q4 EBIT soars 333.3% to INR1.04bn
- Revenue grows 31.1% to INR47.88bn
- Strong growth from fashion and lifestyle unit
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, booked a "strong" performance during the fourth quarter, with profit increasing more than fourfold.
Earnings before interest and tax (EBIT) reached INR1.04bn (US$16.5m) during the fourth quarter, compared to INR240m in the same period of the prior year. Revenues increased 31.1% to INR47.88bn from INR36.53bn in the prior year.
The company's fashion and lifestyle sector delivered another quarter of "strong" growth. Reliance Trends operates more than 200 stores and sells over 150,000 garments per day making it the largest fashion destination in the country.
During the full year, EBIT jumped 253.4% to INR4.17bn from INR1.18bn. Revenue rose 21.2% to INR176.4bn from INR145.56bn the prior year.
Driven by a strong value proposition, a wide product offering and a captivating shopping experience, like-for-like revenue grew 17% across various format sectors during the year.
As of 31 March 2015, Reliance Retail operated 2,621 stores across 200 cities.
"Our organised retail business maintained its high growth trajectory with a wider pan-India footprint," said Reliance Industries chairman and managing director Mukesh Ambani. "Particularly gratifying, we achieved this, while maintaining our track-record of adhering to highest standards of safety and operational excellence."
Help test our new apparel sourcing tool.
Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, continued its growth momentum in the third quarter, achieving what it says are "significant milestones". ...
Value sales of apparel and footwear specialist retailers grew by 13% in 2015, driven by the increased number of international retailers that entered the country during the year....
- Trump and the apparel industry – Infographic
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- British Brexit plans prioritise tariff-free trade
- Outlook 2017 – What next for apparel sourcing?
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- MAS Holdings planning second industrial park
- American Apparel to shutter all stores?
- Better compliance "crucial" for Bangladesh growth
- Outdoor performance apparel 2016: A broader perspective
- Global apparel markets: product developments and innovations, October 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Anti-odour clothing: fresh fashion for an active lifestyle
- Global market review of lingerie – forecasts to 2022