Kishore Biyani- led Future Lifestyle Fashion, the demerged entity of Future Retail and Future Ventures reported healthy profit and sales numbers for the third quarter of the financial year ending March 31, 2014.
Future Lifestyle Fashion, which is an integrated fashion company with presence across key segments within the fashion industry including design to distribution, witnessed a net profit of Rs 93.39 crore last quarter amid robust sales numbers.
The company, which did not have operations in Q3 FY 2012-13, had reported a net profit of Rs 108.9 crore in the July-September 2013 quarter.
The company, which sells brands such as Indigo Nation, Jealous 21, Manchester United, Scullers and Urban Yoga, posted net revenue of Rs 658.62 crore in the third quarter ended December 31, 2013.
The healthy sales performance posted by the company comes against the backdrop of a subdued economic environment as high interest rates; elevated inflationary pressures which are pinching the pockets of Indian consumers, leaving less room for spending.
Total expenses of the company stood at Rs 636 crore in Q3 FY 2013-14 while finance costs were Rs 41.73 crore in the quarter.
Future Lifestyle Fashion’s brand portfolio offers formal menswear, casual wear, active or sportswear, women’s ethnic wear, women’s denim wear, women’s casual wear, footwear and accessories.
Through its chain of flagship retail format, Central, Brand Factory, Planet Sports and exclusive brand outlets, the company has established a pan-India presence in the India apparels industry.
According to media reports, the company is eying acquisitions in Northern and Southern India to boost its product portfolio and penetrate into newer markets.