Future Consumer Ltd posts Q4 net loss of Rs 155 crore
Future Consumer Ltd reported a net loss of Rs 155 crore ($21 million) for the fourth quarter ended on March 2021, as against a net loss of Rs 175 crore it reported in the year-ago period.
The company’s revenue for the quarter was down by 59 percent to Rs 386 crore, as against a revenue of Rs 947 crore it reported in the corresponding period of the previous fiscal year.
For the full fiscal year 2020-21, Future Consumer reported a consolidated net loss of Rs 483 crore against a net loss of Rs 216 crore in the previous year, while its revenue was down 71 percent to Rs 1,184 crore, as against Rs 4,040 crore in FY 2019-20.
"The Covid-19 pandemic is unprecedented, and the group has experienced its adverse impact. The Group has faced issues in the supply chain, warehousing, packing centres, administrative offices, etc which has adversely affected the operations of the group including its ability to be consistent with supplies and sales and which in turn has also impacted the liquidity position of the group,” Future Consumer said in its earnings statement.
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. Its brands include beauty brands, Kara and TS, and personal care brands, Think Skin, and Puretta, among others.
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