Reliance Retail, the retail arm of industrial conglomerate Reliance Industries, has recorded a 41% hike in first-half turnover, helped by a "strong performance" at its fashion and lifestyle business.

The company, which operates more than 1,550 stores across India, said turnover reached INR69.3bn (US$1.13bn) in the first six months of the year ending 30 September, compared to the same period last year.

During the second quarter, turnover increased 31% year-on-year to INR34.56bn, and Reliance Brands opened the first stores for Dune and Stuart Weitzman.

Mukesh Ambani, chairman and managing director of parent Reliance Industries, said: "[Our] retail business continues to break new ground, growing 41% in the first half. Reliance's ongoing counter-cyclical investments will strengthen our competitive position in each business segment."