Reliance Retail has reported a 105% surge in segment revenues to $10.4bn for the fiscal year ending on 31 March 2018, compared to $5.08bn for the same period last year.

The company’s revenues for the fourth quarter also grew by 134.1% year-on-year to $3.64bn, compared to $1.55bn for the same period last year.

Reliance Industries chairman and managing director Mukesh Ambani said: “Reliance has become the first Indian company to record PBDIT of over $10bn with each of our key businesses – Refining, Petrochemicals, Retail and Digital Services achieving record earnings performance.

“It is very heartening to see the traction our service offerings are gaining, with discerning Indian consumers.”

“We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well.

“It is very heartening to see the traction our service offerings are gaining, with discerning Indian consumers. The growing Indian market provides exciting opportunities to scale-up these businesses and maximise long-term shareholder value in the coming years.”

During the fourth quarter, the Indian retailer has expanded its store network with additional 86 stores across various concepts, including 11 Reliance Fresh and Smart stores, four Reliance Market stores, 20 Reliance Digital and Jio stores and 39 Reliance Trends stores.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Reliance Retail has also acquired a 46.6% stake in a luxury apparel and accessories retailer, Genesis Luxury Fashion, this year.

Reliance Retail currently operates 3,837 stores across 750 cities, including 513 Reliance Fresh and Smart stores, 2,000 Reliance Digital and Jio stores.