Home / Knowledge / News / Apparel/Garments / Q3FY15 net sales up 15% at Kishore Biyani led Future Retail
Q3FY15 net sales up 15% at Kishore Biyani led Future Retail
16
Feb '15
Net sales at Kishore Biyani led; Future Retail rose 15 per cent year on year in the third fiscal quarter ending December 31, 2014.

Net sales in the third quarter of fiscal 2015 increased to Rs 2,616.03 crore as against Rs 2,276.30 crore in the corresponding quarter of previous fiscal, up 15 per cent.

However, total expenses also drove up by 13.5 per cent in the reporting quarter to Rs 2,474.36 crore from Rs 2,180.69 crore in the third quarter of fiscal 2014.

Among all financial parameters, the best gain was reported by profit before other income, finance cost and exceptional items which surged 26.47 per cent from a year ago quarter to Rs 180.38 crore.

Finance costs expanded to Rs 177.50 crore in the third quarter of current fiscal compared to Rs 149.27 crore, up a massive 19 per cent.

In the quarter under review, pre-tax profits fell sharply to Rs 7.87 crore as against Rs 32.18 crore, down 75.5 per cent.

In the third quarter of fiscal 2014, Future Retail had shown profit on sale of investments amounting to Rs 30.81 crore, otherwise pretax profits would have been just Rs 1.37 crore.

Tax expense at Future Retail in the reporting quarter fell by a steep 75.5 per cent from the prior fiscal third quarter to Rs 2.55 crore.

Net profit at Rs 5.32 crore was also down by 75.5 per cent from Rs 21.74 crore in the same quarter of last fiscal.

In a separate BSE filing, Future Retail's Board approved divestment of part of its investments in its subsidiary, Future Supply Chain Solutions Ltd.

It authorised the committee to consider various options for a value up to Rs 700 crore, such as offer for sale as part of initial public offering (IPO), sale to private equity or a strategic investor.

Future Retail is the flagship company of Future Group and operates in multiple retail formats like Big Bazaar, Fashion at Big Bazaar, Home Town, etc. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Rieter

Textiles | On 22nd Aug 2017

Rieter unveils new generation of RDB-D 50 draw frame

Rieter, a producer of textile machinery and automobile components,...

Courtesy: Alizilla

Textiles | On 22nd Aug 2017

‘New Retail’ strategy Alibaba’s focus in next 15 years

Alibaba executive vice chairman Joe Tsai has said that the next 15...

Courtesy: Eurovet/ Interfiliere Shanghai

Textiles | On 22nd Aug 2017

Interfiliere Shanghai to focus on textile printing

Interfiliere Shanghai, the leading trade show for intimates,...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search