Future Retail posts Q2 standalone profit of Rs74 crore
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Mumbai: Future Retail Ltd that operates super markets and hyper markets like Big Bazaar and Easyday on Tuesday reported a standalone net profit of Rs73.63 crore for the quarter ended September.
In the year-ago quarter, net loss stood at Rs56.69 crore. The results, however, are not comparable as the company has restructured its operations and demerged its back-end operations into a separate company, Future Enterprise Ltd, which was listed on the stock exchanges in May.
Net sales in the September quarter stood at Rs4,129.85 crore, against Rs359.86 crore in the year-ago quarter.
Future Retail was formerly known as Bharti Retail. Following an arrangement between Bharti Retail and Future Retail, two companies were formed, separating the front and back-end operations. The front-end operations were transferred to Bharti Retail which was then renamed Future Retail and the erstwhile Future Retail was renamed Future Enterprise.
Shares of Future Retail rose 1.78% to close at Rs123 per share on Tuesday on the BSE, while the benchmark Sensex index rose 0.17% to close at 26,392.76 points.