Retail in Asia

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Some of Reliance’s retail formats still making losses

While Indian business magnate Mukesh Ambani’s Reliance Retail showed a jump of 25 percent in consolidated revenue in 2011-12, some of his other major retailing units are still posting losses, according to parent company Reliance Industries Ltd (RIL)’s 2011-2012 annual report.

Reliance Retail, set up by RIL six years ago, runs 1,300 stores. It made INR7,599 crore (INR75.99 billion, USD1.41b) in revenue in 2011-12, but didn’t disclose consolidated net profit. Reliance Fresh Ltd posted a loss of INR273.8 crore on a revenue of INR3,860.4 crore. Reliancedigital Retail posted a loss of INR55.1 crore on a revenue of INR1,234 crore.