Future Lifestyle Fashions reports Q4 net loss of Rs 149 crore
Future-Group owned fashion retailer Future Lifestyle Fashions Ltd (FLFL) reported a consolidated net loss of Rs 149 crore ($20 million) for the fourth quarter ended in March 2021, on a revenue of Rs 832 crore.
The company’s expenses for the quarter were down by 38 percent to Rs 984 crore, as compared to Rs 1,580 crore.
For the fiscal year 2020-21, FLFL reported a consolidated net loss after taxes of Rs 933 as compared to last fiscal’s Rs 53 crore, while its revenue for the year was down 64 percent to Rs 2,277 crore as against the previous fiscal’s Rs 6,297 crore.
“Covid-19 pandemic has had a significant impact on the business operations and the financial results of the company for the quarter and for the year ended March 31, 2021. It has assessed the impact of this pandemic on its business operations and has considered all relevant internal and external information available up to the date of approval of these financial results,” FLFL said in a statement.
FLFL is India’s largest integrated fashion company with a diversified portfolio spanning 30 fashion brands (both owned and licensed) such as Lee Cooper, Indigo Nation, Jealous 21, Bare, All, among many others.
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