Future Lifestyle Fashion profit plummets 64 percent to Rs 26 crore
Future Lifestyle Fashion Ltd (FLFL), part of Kishore Biyani-led Future Group saw its profit plummet 64 percent for the quarter ended March 2018 to Rs 26 crore (approx $4 million) as compared to Rs 72 crore (approx $10.7 million) it had posted in the January-March quarter a year-ago.
The total revenue of the firm for the quarter was also slightly down to Rs 987 crore (approx $145 million) as against Rs 993 crore (approx $145.8 million) in the corresponding period of the last fiscal. The company’s expenses shot up 1 percent to Rs 957 crore (approx $140.7 million) from Rs 945 crore (approx $138.9 million).
For the fiscal year 2017-18, the company’s net profit dipped almost 5 percent to Rs 110 crore (approx $16.2 million) as against Rs 116 crore (approx $17.1 million) in 2016-17 while its income was up 9 percent at Rs 4,252 crore (approx $624.6 million), compared to Rs 3,890 crore (approx $571.4 million) in the previous fiscal.
FLFL is India’s largest integrated fashion company with diversified portfolio spanning 30 fashion brands (both company owned and licensed) such as Lee Cooper, Indigo Nation, Jealous 21, BARE, aLL among others.
FLFL retails through 400+ stores spread over 6 million square feet that comprise of company operated chains Central and Brand Factory, EBOs, department stores and multi brand outlets.
Copyright © 2021 FashionNetwork.com All rights reserved.