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Net sales at Future Lifestyle hikes 26.6% in Q2FY15
18
Nov '14
Kishore Biyani led Future Lifestyle and Fashions Ltd (FLFL) reported a 26.68 per cent year on year hike in second fiscal quarter ending September 30, 2014, net revenues.

In a filing to the BSE, FLFL said its net sales stood at Rs 874.12 crore during the July-September 2014 quarter, up 26.68 per cent from Rs 690.01 crore in the corresponding quarter a year ago.

Driven by purchases of stock which soared 25.21 per cent from the prior-year quarter, overall expenses also surged 20.46 per cent from Rs 697.37 crore to Rs 840.07 crore in the reporting quarter.

Profit from operations before other income, finance costs and exceptional items totalled Rs 51.86 crore, up more than four times from 12.77 crore in the same quarter of fiscal 2013-14.

FLFL reported other income of Rs 1.53 crore in the quarter under review as against Rs 190.82 crore in the July to September 2013 period.

In the second quarter of fiscal 2013-14, FLFL had divested its 25.8 per cent stake in Biba Apparels to a private equity fund for Rs 190 crore.

Profit from operations before finance costs and exceptional items touched Rs 53.39 crore in the second fiscal quarter of 2014-15 versus Rs 203.59 crore.

FLFL notched profit from ordinary activities after finance costs but before exceptional items at Rs 10.70 crore vis-a-vis Rs 161.19 crore in the year earlier quarter.

Tax paid in the reporting quarter stood at Rs 3.72 crore as against Rs 52.29 crore in the second quarter of previous fiscal year.

The fashion retailer reported a net profit of Rs 6.98 crore for the second quarter of the ongoing fiscal year.

It had registered a net profit of Rs 108.90 crore for the corresponding period of the previous fiscal year, on the account of other income of Rs 190.82 crore.

The Company is an integrated fashion company with presence across key segments within the fashion industry – beginning from design and right up to distribution.

FLFL has four retail formats like Central, Brand Factory, Planet Sports and All, which markets plus size clothing.

It also has over 40 apparel brands in its portfolio, inclusive of licences to market, Celio, Lee Cooper, Scullers, Indigo Nation, Converse, Spalding, Urban Yoga, etc. (AR)

Fibre2fashion News Desk - India

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