Reliance Retail has joined the Indian fast-moving consumer goods sector by bringing Reliance Fresh and Reliance Smart, two of its private label brands that are offered in its supermarkets and hypermarkets, to the general public. For the FMCG sector, which would be a part of Reliance Retail’s consumer brand division, the company had internally set a target of Rs 50,000 crore in revenue.
It intends to sell a variety of goods, including food, non-food items, and home care items. Reliance Retail reported an increase in EBIDTA of 97.7% to Rs3,837 crore and a net profit of 114.2% to Rs2,061 crore for the April-June quarter compared to the same period the previous year. The largest retailer in the nation had a quarter-over-quarter increase in cash profit of 105.2% to Rs2,873 crore.
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