Future Lifestyle Fashions reports Q1 net loss of Rs 325 crore
Future Group-owned Future Lifestyle Fashions (FLF) reported a Q1 net loss of Rs 325 crore ($44.3 million) for the quarter ended June 2021, as against a net loss of Rs 329 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 232 percent to Rs 265 crore, as against Rs 80 crore it had reported in the corresponding period of the previous fiscal year.
“The company has considered the impact of Covid -19 in the financial results for the quarter ended June 30, 2021. As the business recovered from mid-June, the company believes the pandemic will not impact the recoverability of the carrying value of the assets,” FLF said in its earnings report.
“The company continues to monitor any material changes and possible effects that may result from the present pandemic on its financial condition, liquidity and operations and working to minimise the impact of this unprecedented situation. As the situation is continuously evolving, the eventual Impact may be different from the estimates made as of the date of approval of these results,” he added.
Future Lifestyle Fashions ended the June quarter with a store count of 333 across all formats.
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