Home / Knowledge / News / Apparel/Garments / Q1FY16 net at Future Lifestyle slides 30%
Q1FY16 net at Future Lifestyle slides 30%
12
Aug '15
Net profit at Kishore Biyani led Future Lifestyle Fashions slid 30.33 per cent year over year in the three months to June 30, 2015.

In a BSE filing, Future Lifestyle said its net profit in the three months to June 30, 2015 plunged to Rs 2.48 crore, down 30.33 per cent from Rs 3.56 crore in the first quarter of fiscal 2015.

Resultantly, earnings per diluted share also drove down to Rs 0.13 from Rs 0.23 in the three months to June 30, 2014.

Net profit at the apparel retailer turned positive in the reporting quarter due to other income of Rs 12.00 crore as against Rs 63 lakhs in the prior fiscal second quarter.

Net sales at the retailer which operates several retail formats were nearly flat at Rs 684.34 crore in the quarter under review as against Rs 683.06 crore.

Expenses at Future Lifestyle Fashions were down 2.85 per cent at Rs 674.88 crore in the first quarter of fiscal 2016 compared to Rs 656.15 crore from a fiscal earlier period.

Profit from operations before other income and finance costs were Rs 27.04 crore, dropping 37 per cent from Rs 42.99 crore in the previous fiscal's first quarter.

Future Lifestyle added that profit from operations before finance costs amounted to Rs 39.36 crore, down 9.76 per cent year on year.

The company was however able to reduce its finance costs by 6.93 per cent at Rs 35.69 crore from Rs 38.35 crore in the first quarter of last fiscal.

Profit from ordinary activities before tax in the reporting quarter stood at Rs 3.67 crore compared to Rs 5.27 crore, a steep dip of 30.36 per cent

Tax expense also saw a massive decline of 30.4 per cent at Rs 1.19 crore as against Rs 1.71 crore in the first quarter of fiscal 2015. (AR)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles minister Smriti Irani lighting the lamp to inaugurate the 6th edition of the International Apparel and Textile Fair ‘VASTRA 2017’, in Jaipur. Courtesy: PIB

Textiles | On 22nd Sep 2017

Placement rate in textiles sector is 70%: Indian minister

The recent high growth of foreign direct investment (FDI) in the...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Textiles | On 22nd Sep 2017

Messe Frankfurt acquires Source Africa, ATF textile shows

Messe Frankfurt, one of the world´s leading trade show organisers,...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Nisha Chanda
Whistling Woods International School of Fashion

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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