Future Lifestyle Fashion Q1 profit jumps 20 percent to Rs 28 crore
today Aug 8, 2018
Kishore Biyani-led Future Lifestyle Fashion Ltd (FLFL) saw its standalone net profit jump 20 percent to Rs 28 crore (approx $4.1 million) for the first quarter ended June 30, 2018. The company had reported a net profit of Rs 24 crore during the same period the previous year.
The company’s revenue was also up 23 percent to Rs 1,277 crore during the quarter as compared to Rs 1,038 it posted in the corresponding quarter last fiscal.
Future Lifestyle Fashion’s expenses also shot up in the quarter by 23 percent to Rs 1,233 crore as against Rs 1,001 crore in the previous fiscal, (FLFL) said in a BSE filing.
To strengthen its market position in fashion, Future Lifestyle Fashions Limited had acquired up to a 29.9% stake in online fashion retailer Koovs last month.
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 company operated chains Central and Brand Factory, EBOs, department stores and multi-brand outlets.
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