Future Lifestyle Fashions Q3 net profit drops 8 percent to Rs 59 crore
Future Lifestyle Fashions Ltd (FLFL) witnessed an 8 percent decline in its net profit to Rs 59 crore ($8.3 million) for the third quarter ended December 31, 2019, as against a net profit of Rs 65 crore it had reported in the year-ago period.
The company’s revenue for the quarter grew 3 percent to Rs 1,742 crore with its fashion outlets Brand Factory and Central contributing Rs 729 crore and Rs 860 crore respectively.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 93 percent at Rs 323 crore. The company’s tax expenses also witnessed a 13 downfall to Rs 28 crore, during the period under review.
Future Lifestyle opened one Central and four Brand Factory stores during the third quarter, taking the total count of Central to 49 and Brand Factory to 104.
Future Lifestyle Fashions portfolio consists of fashion brands that cover sub-categories including formal menswear, casual wear, active and sportswear, women's ethnic wear, women's denim wear, women's casual wear, footwear, and accessories.
For the financial year 2018-19, FLFL had reported revenue of Rs 5,728 crore and profit of Rs 189 crore.
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