Reliance Retail Q1 pre-tax profit up 19% at Rs 203 crore

Company's turnover in the quarter under review went up by 17.5% at Rs 4,698 crore

Reliance Retail, the retail arm of Reliance Industries, today reported nearly 19 per cent increase in its pre-tax profit at Rs 203 crore for the first quarter ended June 30, 2015.

It had reported PBDIT (profit before depreciation and income tax) at Rs 171 crore in the corresponding period of the previous year.

Reliance Retail's turnover in the quarter under review went up by 17.5 per cent at Rs 4,698 crore as against a turnover of Rs 3,999 crore in the first quarter of 2014-15.

"Reliance Retail recorded continued growth momentum and strong profitability in the first quarter of the current financial year...Value Formats consolidated their leadership position further of being the largest grocery retailer in the country," the company said in a statement.

During the quarter, Reliance Brands announced an exclusive partnership with Japanese retailer Muji, which sells a wide verity of household and consumer goods and Dutch lingerie brand Hunkemoller.

Reliance Retail now operates 2,747 stores across 210 cities in India.