Home / Knowledge / News / Apparel/Garments / Q3 PBDIT zooms 114% at Mukesh Ambani led Reliance Retail
Q3 PBDIT zooms 114% at Mukesh Ambani led Reliance Retail
27
Jan '15
Improved margins drove profit before depreciation, interest and taxes (PBDIT) by 114 per cent year-on-year at Reliance Retail during the third fiscal quarter ending December 31, 2014.

Reliance Retail said it posted its highest ever profit before depreciation, interest and taxes (PBDIT) in the reporting quarter at Rs 227 crore, up an astounding 114 per cent from a year earlier quarter.

In a press release, the parent Reliance Industries said Reliance Retail posted an 18.9 per cent hike in sales at Rs 4,686 crore for the October to December 2014 quarter, despite a challenging environment.

Reliance Retail reported revenues of Rs 12,852 crore for the first nine months of the current fiscal year, a growth of 17.9 per cent as against Rs 10,903 crore in the same quarter of previous fiscal year.

Reliance Retail saw net addition of 279 stores during the quarter accelerating the pace of store opening to over 3 stores a day.

During the quarter, the Mukesh Ambani led retailer said its fashion format; Reliance Trends crossed the milestone of operating stores in over 100 cities.

“The fashion & lifestyle sector witnessed strong growth during the quarter owing to a relentless focus on providing customers with fashionable, high quality products at great value,” the statement added.

According to the retailer, it grew its presence through its partnerships and that its partnerships with Grand Vision and M&S saw strong sales growth from existing stores and also expanded store count.

Reliance Brands partnered with ABG Juicy Couture, LLC for a distribution agreement for the brand, Juicy Couture in India.

Reliance Retail now operates 2,285 stores across the country. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search