Reliance Retail posts 25 percent growth in FY12

Mumbai: Reliance Retail, a unit of Mukesh Ambani-controlled Reliance Industries , posted a 25 percent revenue growth in 2011-12 as demand at existing stores remained robust, Reliance Industries said in its annual report.

Reliance, which disclosed its retail unit’s performance for the first time, reported revenues of Rs 75.99 billion in 2011-12.[caption id=“attachment_303100” align=“alignleft” width=“380” caption=“Chairman and managing director of Reliance Industries Mukesh Ambani. Reuters “] [/caption]

Its same-store sales growth jumped 20 percent in most of its retail formats, the company said.

Same-store-sales growth records the performance of stores that are at least a year old and is a key guage of profitability for retailers.

Reliance, which added 200 stores across various formats in 2011-12, runs 1,300 retail stores at the end of the financial year ended 31 March 2012.

Out of the total store count, it operates 700 hypermarkets-supermarkets under its value format-which is the largest contributor to its revenues.

The company operates over 15 distribution centres for fresh food and over 50 facilities comprising collection centres and processing centers.

Reuters