Future Retail Q3 net profit at Rs 101 cr

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Homegrown retail major Future Retail
has posted standalone net profit of Rs 101.05 crore for the third quarter ended December 31.

The company had posted a net profit of Rs 53.83 crore in the October-December period of the previous fiscal.

Its total income from operations stood at Rs 4,420.12 crore in the quarter under review as against Rs 2,496.07 crore in the year-ago period, the company said in a BSE filing.

However, company said that “the numbers are not comparable due to scheme of arrangement between Future Retail and Bharti Retail”.

In May 2015, Future group had agreed to merge its retail business with rival Bharti Retail in an all-stock deal.

The name of the company has been changed from Bharti Retail Ltd to Future Retail from May 25, 2016.

Shares of Future Retail were trading 7.94 percent up at Rs 204 apiece on BSE.