Future Retail Q1 revenue up 18 percent, profit jumps 108% to 148 crore
Future Retail, the flagship company of Future Group, saw income rise 18 percent to Rs 4,707.44 crore, compared to Rs 3,985.22 crore for the corresponding period last year.
The company’s profit jumped 108 to Rs 147.85 crore for first quarter ended 30 June 2017, the company said in its earnings announcement. The company had posted profit of Rs 70.55 crore during the same period last fiscal.
Future Retail opened Big Bazaar outlets in Guntur in Andhra Pradesh, Gorakhpur in Uttar Pradesh and Kangra in Himachal Pradesh during the quarter.
The company in its announcement also said its board has approved demerger of its Home Retail business undertaking to Praxis Home Retail Ltd.
Future Retail operates 893 stores across Big Bazaar, FBB, easyday, Foodhall, ezone and Home Town in 246 cities across India.
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