MUMBAI Reliance Retail, a unit of Mukesh Ambani-controlled Reliance Industries (RELI.NS), 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 75.99 billion rupees in 2011/12.
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 March 31, 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.
(Reporting by Nandita Bose; editing by Malini Menon)
Trending On Reuters
The deaths of a number of witnesses in a massive fraud case surrounding cheating at college and government jobs has become the latest source of discomfort for the Bharatiya Janata Party (BJP), already on the defensive over influence trafficking allegations. Full Article
Insight - Car dashboards that act like smart phones raise safety issues Full Article