Published
Feb 6, 2019
Download
Download the article
Print
Text size

Future Retail Q3 net profit up 10 percent to Rs 201 crore

Published
Feb 6, 2019

Future Retail posted a 10 percent rise in its net profit to Rs 201 crore ($28.1 million) for the quarter ended on December 31, 2018, as compared to Rs 183 crore it had posted for the same period of previous fiscal.
 

Future Retail Q3 net profit up 10 percent to Rs 201 crore - FBB


The company’s revenue grew 13 percent at Rs 5,306 crore for the October-December period of the current fiscal. It had reported a total income of Rs 4,696 crore in the same period of 2017-18.
 
Future Retail added 2 Big Bazaar stores, 15 FBB stores, and 91 small format stores during Q3FY19 taking the total count to 286; 89 and 1,050 stores respectively.

The company also stated that it will raise funds up to Rs 2000 from promoters to lower rentals expenditure.
 
"Promoters and management are highly motivated to contribute towards an integrated growth for Future Retail. To this extent, promoters are committing an equity infusion of Rs 2,000 crore at a price of Rs 505 per share. The endeavor is to completely do away with lease rentals in next eighteen months,” Future Retail said in a statement.
 
Future Retail is the retail entity of the Future Group and the highest revenue generator for the company. It had reported a total income of Rs 18,489 crore ($2.8 billion) for the last financial year.

Copyright © 2024 FashionNetwork.com All rights reserved.