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India’s Reliance posts 2 pc retail growth in FY12

India’s Reliance Retail, a unit of Mukesh Ambani-controlled Reliance Industries , posted a 25 percent revenue growth in 2011/12 as demand at existing stores remained robust, Reliance Industries said in its annual report.

Reliance, which disclosed its retail unit’s performance for the first time, reported revenues of INR75.99 billion (USD1.42b) in 2011/12.

Its same-store sales growth jumped 20 percent in most of its retail formats, the company said. 

(Source: CNBC)