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Tuesday, 20 November 2018

India’s Future Retail posts 14% hike in net profit in second quarter

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Future Retail Ltd. (FRL) has announced its Q2 results for the quarter ending September 30th. India’s leading retail chain recorded a 14 per cent surge in its profits to Rs. 175 crores as compared to the Rs. 153 crores it fetched last year during the said time period.

The company also reported that its revenue during the period was also up to Rs. 4,929 crores as compared to Rs. 4,506 crores during the previous quarter in last fiscal. By the end of its second quarter this year, it managed to grow its presence into 373 cities across the country.

Further adding on the store count, the retailer marked out that it will be launching around 100 small format stores in the coming time along with 20 Big Bazaar stores by the end of this fiscal year. The retail chain operates 1,336 stores across its different brands such as Big Bazaar, Easyday and FBB.

As per the data available, FRL reported its total income to Rs. 18,489.64 crores claiming to be the Future Group’s biggest revenue producer.

Recently, Future Retail’s Big Bazaar organised the first ever 24-hour Facebook Live shopping extravaganza to mark the 12th anniversary of its Sabse Sasta Din event.

The leading retail chain fetched a profit of Rs. 183.14 crores during the third quarter of the previous fiscal year and it remains to be seen that can FRL manage to better the previous year’s number by the end of this fiscal.


Source: https://in.apparelresources.com