Future Consumer Enterprise Q1 loss narrows to Rs21 crore

Consolidated net sales in the June quarter stood at Rs462.78 crore, up from Rs341.41 crore in the year-ago quarter


Future Consumer Enterprise had posted a consolidated net loss of Rs29.05 crore in the same quarter last fiscal.
Future Consumer Enterprise had posted a consolidated net loss of Rs29.05 crore in the same quarter last fiscal.

New Delhi: Future Consumer Enterprise Ltd’s consolidated net loss narrowed to Rs.20.73 crore in the first quarter ended June, the company said on Friday.

It had posted a consolidated net loss of Rs.29.05 crore in the same quarter last fiscal.

Consolidated net sales during the period under review stood at Rs.462.78 crore, up from Rs.341.41 crore in the year-ago quarter, Future Consumer Enterprise said in a BSE filing.

The company said since it has realigned its business by shifting operations of convenience stores to be undertaken as franchise models in the last quarter and made some acquisitions after 30 June 2015, the results are not comparable.

At a meeting on Friday, the board of directors also approved changing the name of the company to Future Consumer Ltd or such other name as may be approved by the competent authority.

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