Net profit at Kishore Biyani led Future Lifestyle Fashions tanked 69.77 per cent year over year in the second fiscal quarter ended September 30, 2015.
In a BSE filing, Future Lifestyle said its net profit reached Rs 2.11 crore for the second quarter of fiscal 2016 as against Rs 6.98 crore in the same period of the previous fiscal, down a massive 69.77 per cent.
Net sales during the reporting quarter totaled Rs 853.45 crore, also down 2.36 per cent compared to Rs 874.12 crore in the fiscal ago period.
Employee expenses during the quarter under review were higher at Rs 47.51 crore vis-a-vis Rs 44.10 crore in the second quarter of last fiscal.
The company further added that rent too was higher at Rs 92.44 crore as against Rs 83.67 crore in the prior fiscal's second quarter.
Future Lifestyle Fashions is an integrated fashion company with presence across key segments within the fashion industry i.e. from design to distribution.
It has a portfolio of fashion brands that cover all fashion categories including formal menswear, casual wear, active or sportswear, women's ethnic wear, women's denim wear, women's casual wear, footwear and accessories.
In the fashion retail segment, Future Fashion operates formats like Central, Brand Factory, Planet Sports and I Am.
Within its apparel brands portfolio, the company has brands like Lee Cooper, Scullers, Bare Denims, Indigo Nation, Urban Yoga, Converse, Spalding, John Miller, Urbana, Jealous 21, Mother Earth etc. (AR)
Fibre2Fashion News Desk – India