Future Lifestyle Fashions posts Q3 net loss of Rs 112 crore
Future Group-owned Future Lifestyle Fashions Ltd (FLFL) managed to narrow its losses to Rs 112 crore ($14.9 million) for the third quarter ended December 2021, as compared to a net loss of Rs 174 crore it posted in the year-ago period.
The company’s revenue for the quarter rose by 32 percent to Rs 1,255 crore, as against Rs 950 crore it posted in the corresponding period of the previous fiscal year.
“Consumer confidence has improved over the last quarter and exhibit positive outlook for future but still have concerns over inflation and spending. Inflation and rising raw material costs, coupled with supply chain disruptions pose a big threat to various sectors,” FLFL said in its quarterly update.
The company plans to focus on footfall and ticket size improvement through various marketing strategies going forward and plans to launch new product categories to boost sales in the coming quarters.
Future Lifestyle Fashions ended the December quarter with a store count of 331 across all formats.
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