New Delhi: Kishore Biyani promoted Pantaloon Retail (India) Ltd on 27 September posted a 17.89% jump in net profit for the quarter ended 30 June at Rs18.66 crore as against Rs15.83 crore in the corresponding quarter previous fiscal.
Pantaloon’s board, which approved its financial results at a meeting held yesterday (26 September), also okayed raising Rs2,000 crore via an IPO and private placement.
The board approved raising of funds for its subsidiary, Future Ventures India Ltd, by way of IPO, private placement of shares or issue of convertible instruments. It also recommended a dividend of Re0.50 (25%) per equity share.
The company’s net sales during the quarter stood at Rs1,019.63 crore against Rs576.35 crore during the same quarter last fiscal, up 76.91% year-on-year.
For the fiscal year ended 30 June, the company’s net profit grew 87% at Rs119.99 crore while turnover jumped 73% at Rs3,263.73 crore, the statement said.