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

Apparel/Garments | On 23rd Mar 2017

UK's National Living Wage to be £7.50 from April 2017

The National Living Wage in the UK for workers aged 25 and above is...

Textiles | On 23rd Mar 2017

Trutzschler launches Toyota-Truetzschler comber machine

Trutzschler, one of the world's leading textile machinery...

Jeff Bezos (L) and Amancio Ortega. Courtesy: Forbes

Apparel/Garments | On 23rd Mar 2017

Amazon founder Jeff Bezos is world's 3rd richest man

The biggest gainer and the third richest man on the Forbes' 31st...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search