Published
Nov 8, 2017
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Future Retail's Q2 revenue up 8%, profit jumps 108% to Rs 153 crore

Published
Nov 8, 2017

Future Group’s retail entity Future Retail Limited posted strong Q2 results as its profits jumped 108% to Rs 153 crore (approx $23.6 million) and revenue witnessed a 8% rise to Rs 4509 crore (approx $ 692.7 million) for the quarter ended September 30, 2017.
 

Fashion Big Bazaar


The company's profit and revenue for the same period stood at Rs 74 crore (approx 11.5 million) and Rs 4198 crore (approx $645 million) respectively during the last financial year 2016-17, the company said in its results statement.
 
Future Retail in its investor presentation said its year-on-year growth in revenues was stifled due to implementation of the goods and services tax (GST) from July 1 and the rationalizing of the eZone network of electronics stores.

Future Retail which acquired retail chain Hypercity last month from Shoppers Stop Ltd for Rs 655 crore (approx 100.5 million) in a part cash and part stock deal has also chalked out a plan to improve the gross margins of its newly acquired entity.
 
The company plans a strong interplay with Future Group technology & loyalty program besides scaling up private labels across all segments especially fashion in all 21 Hypercity stores for growth
 
In the second quarter Future Retail entered tier II & III cities like Hajipur in Bihar, Cuttack, Bhubaneshwar, Puri in Odisha, Raigarh in Chattisgarh and Coimbatore in Tamil Nadu with Big Bazaar & Fashion Big Bazaar (FBB) stores.
 
Future Retail ended the quarter with 914 operational stores across Big Bazaar, FBB, easyday, Foodhall, ezone and Home Town in 253 cities across India.

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