Future Consumer posts Rs 17 crore loss in Q2
Future Consumer, a part of Kishore Biyani-led Future Group reported a net loss to Rs 17 crore ($2.4 million) for the quarter ended September 30, 2019, as against a net loss of Rs 3 crore it had reported in the corresponding quarter last fiscal.
The company’s net sales for the July-September quarter rose 11 percent to Rs 1,121 crore, as against Rs 1,011 crore in the year-ago period.
Future Consumer’s expenses for the quarter under review also increased to Rs 1,121crore, as against Rs 1,016 crore it had reported last year.
The poor performance for the quarter was a result of the overall slowdown which has been the trend for most companies this year.
The company remains optimistic about the future and will continue expansion of home and personal care products coupled with the expansion of its rural distribution network.
Future Consumer is targeting a turnover of Rs 6,000 crore in the next five to seven years. For the financial year 2018-19, the company had reported revenue of Rs 2990 crore.
Future Consumer is a part of Future Group operating in personal care and FMCG space with 27 brands in over 65 categories.
Copyright © 2022 FashionNetwork.com All rights reserved.