Reliance retail became 1st Indian retail company to cross Rs 1 lakh crore in annual revenues

Last Updated: April 22, 2019

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Reliance retail became 1st Indian retail company to cross Rs 1 lakh crore in annual revenues

Reliance retail became 1st Indian retail company to cross Rs 1 lakh crore in annual revenues

22 April 2019 Current Affairs:

The retail venture of Reliance Industries reported an income of Rs 1,30,556 crore for 2018-19, 89% more than the previous year’s Rs 69,198 crore, the company.
Notably, Reliance Retail is the only Indian retailer to be in the top 100 global retailers list and the 6th fastest growing retailer globally as per the Global powers of retailing 2019, Deloitte.
Mukesh Ambani led Reliance Retail also became the first Indian retailer to cross more than 10,000 stores. It operates 10,415 retail stores in more than 6,600 cities and towns, covering an area of over 22 million sq ft, as on March 31.
For FY19, Reliance Retail added 81 new stores in the grocery consumption basket, taking the total count to 612 Reliance Fresh, SMART and Reliance Market stores as on March 31, 2019.
During the year, Reliance Retail opened 76 new Digital stores, 2,219 Jio stores. It operates more than 8,000 Digital and Jio stores as of March 31.
Compared to that, Future Group, the second biggest retail enterprise in the country, operates about 2,200 outlets nationwide with about Rs 35,000 crore of annual consolidated revenues.

Daily Current Affairs 2019



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