Future Enterprises Q2 net loss at Rs 34 cr

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Homegrown retail major today reported a standalone net loss of Rs 33.85 crore for the second quarter ended September 30, 2016.

The company, earlier known as (FRL), had posted a net profit of Rs 32.48 crore in the July-September quarter of the previous fiscal.

Future Enterprises’ (FEL) total income from operation stood at Rs 935.25 crore in the quarter under review. It was Rs 3,098.42 crore in the year-ago period, the company said in a filing.

FEL added that “figures are not comparable with the previous year/quarter” due to demerger of the retail business into Bharti Retail and demerger of the retail infrastructure of FRL into the company.

In the first half of 2016-17, the company’s standalone net profit was Rs 281.63 crore, compared to Rs 76.562 crore in the year-ago period.

Net sales in the first half of the current fiscal was Rs 1,856.44 crore. It was Rs 5,997.88 crore in the same period last year.