Future Consumer Q2 revenue plummets, loss widens to Rs 147 crore

By

Maverick Martins

Published
Nov 11, 2020

Future Consumer’s consolidated net loss for the quarter ended September 2020 widened to Rs 147 crore ($19.8 million), as against a loss of Rs 17 crore in the July-September period last year.
 

The company’s revenue for the quarter plummeted to Rs 245 crore, as against Rs 1,127 crore it had reported in the corresponding period last year resulting in higher losses.
 
Future Consumer’s expenses for the quarter were down to Rs 355 crore, as against Rs 1,121 crore of the previous financial year.

The Covid-19 pandemic caused an adverse impact on the financials. During the three months, the group faced issues in the supply chain, warehousing, packing centres, and administrative offices, which impacted its ability to be consistent with supplies and sales and which in turn also impacted the liquidity position of the group. While the group continues to work very closely with all the stakeholders, the situation continues to be "still evolving,” the company said on the Q2 performance.
 
Future Consumer is the FMCG arm of the Future group, which recently sold its retail and wholesale business in a Rs 24,713 crore deal to Reliance Retail.
 
Future Consumer’s brands include beauty brands, Kara and TS, and personal care brands, Think Skin and Puretta, among others.