• 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."