Reliance Retail Sees Rs 11-cr loss

Reliance Retail Limited (RRL) has posted a net loss of Rs 10.99 crore on total earnings of Rs 259.85 crore in the first year of its commercial operations. The loss was on a total income of Rs 259.85 crore.

RRL is still in the roll-out phase and plans to establish around 5,000 stores by 2009-end. The company made large investments in the initial phase of operations and profits were quite less, which leaded to such a heavy loss.

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