Home / Knowledge / News / Apparel/Garments / Q1FY16 net at Future Lifestyle slides 30%
Q1FY16 net at Future Lifestyle slides 30%
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

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