Future Retail Posts Profit of Rs 66.48 Crore in Q1
New Delhi: Future Retail Ltd on Thursday reported a standalone net profit of Rs 66.48 crore over net sales of Rs 2,317.15 crore for the first quarter ended June 30, 2014.
The company had registered a net loss of Rs 9.46 crore over net sales of Rs 338.14 crore in the corresponding period of fiscal year 2013-14, it said in a filing to the BSE.
Overall expenses stood at Rs 2,248.89 crore in Q1, 2014-15 as against Rs 340.81 crore in the same period a year ago.
The company said previous corresponding period details were not comparable with the current period because it had merged a subsidiary - Future Value Retail Ltd - last fiscal year.
FVRL runs Big Bazaar and Food Bazaar chains.
During the quarter, Future Retail also filed initial papers with the Securities and Exchange Board of India (Sebi) to raise up to Rs 1,600 crore through a rights issue.
Shares in Future Retail, on Thursday, ended at Rs 123.20 apiece on the BSE, up 1.73 per cent from the previous close.
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