Fu­ture Re­tail Q1 profit plunges 91pc

The Pak Banker - - COMPANIES/BOSS -

MUM­BAI: Kishore Biyani-led Fu­ture Re­tail Ltd that op­er­ates hy­per­mar­ket and home re­tail chains such as Big Bazaar, Food Bazaar, FBB, Home Town and eZone missed an­a­lyst ex­pec­ta­tions as its stand­alone net profit plunged 90.82% to Rs.6.10 crore. In the year-ago June quar­ter, net profit stood at Rs.66.48 crore.

An av­er­age of two an­a­lysts had es­ti­mated stand­alone net profit at Rs.30.2 crore and net sales at Rs.2,795.2 crore. How­ever, net sales sur­prised by grow­ing at 22.85% to Rs.2,846.84 crore in the June quar­ter from Rs.2,317.15 crore a year ago. At 1.27pm on Fri­day, the Fu­ture Re­tail stock was down by 2.88% to Rs.124.75, while the bench­mark Sen­sex in­dex was at 28,305.78 points, up 0.03%.

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