Retail News India: Reliance Industries on Friday said the revenues of Reliance Retail went up 34% in the fiscal year ending March 2014 to Rs 14,496 crore and its PBDIT or profit before depreciation, interest and taxes rose to Rs 363 crore.
These revenue figures possibly make Reliance Retail the largest retailer in the country but the picture will become clear after Kishore Biyani’s Future Group declares its results. The group had had posted consolidated revenue from operations of Rs 20,186 crore and net profit of Rs 276 crore for the 18 months ended December 31, 2012.
At an annualized basis, the retailer posted sales of Rs 13,457 crore including Pantaloons department stores’ Rs 1700 crore, which it subsequently sold to the Aditya Birla group. The Future Group will have to post revenue growth of more than 20% on an annualized basis for it to overtake Reliance Retail in 2013-14. The group has three listed entities: Future Retail, Future Consumer Enterprise Ltd and Future Lifestyle Fashion Ltd
Reliance Retail also appears to have piped Future Group in number of stores as well. While Future runs slightly more than 1,000 stores nationwide, Reliance Retail has ended 2013-14 with 1,691 stores spread over almost 12 million sq ft in 146 cities. In 2013-14, Reliance Retail rolled out 225 outlets of various formats spanning a retail space of 2.7 million sq ft.
Source: economictimes.indiatimes
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