Future Consumer posts Q4 net loss of Rs 175 crore
Jul 13, 2020
Future Consumer Ltd reported a consolidated net loss of Rs 175 crore ($23.3 million) for the quarter ended March 2020, as against a net profit of Rs 8 crore it posted in the year-ago period.
The company’s revenue from operations was down 9 percent to Rs 947 crore, as against Rs 1,037 crore it reported in the corresponding period last year.
For the full fiscal 2019-20, Future Consumer posted a net loss of Rs 216 crore, as compared to last fiscal’s net loss of Rs 7 crore, while its revenue rose 4 percent to Rs 4,040 crore, from Rs 3,881 crore in 2018-19.
Commenting on the results, the company in a post-earnings statement said: “Covid-19 started impacting the performance towards the end of March leading to disruptions in sourcing, supply chain, and distribution impacted by store closures due to lockdown.
“The gross margin was impacted by one-time liquidation in processed food and HPC (home and personal care) and incremental share of essentials,” it added.
Future Consumer’s brands include beauty brands Kara and TS, and personal care brands Think Skin and Puretta, among others.
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