Future Enterprises’ Q4 loss widens to Rs46.73 crore
Future Enterprises’ standalone net loss widened to Rs46.73 crore for the fourth quarter ended 31 March 2018, as against a net loss of Rs39.34 crore in the year-ago period
New Delhi: Kishore Biyani-led Future Enterprises’ standalone net loss widened to Rs46.73 crore for the quarter ended on 31 March 2018. The company had posted a net loss of Rs39.34 crore in the corresponding quarter of the previous fiscal.
Future Enterprises’ (FEL) total income stood at Rs953.05 crore in the quarter under review. It was Rs984.97 crore in the year-ago period, the company said in a BSE filing.
The company said revenue from operations (which is part of total income) for the current periods are not comparable with the corresponding earlier periods.
“Revenue from operations for the quarter...was reported inclusive of excise duty. Goods and service tax (GST) was implemented with effect from 1 July 2017, which replaced excise duty and other input taxes,” it added.
In a separate filing, the company said its board approved raising up to Rs1,500 crore via secured redeemable non-convertible debentures (NCDs) in one or more tranches within a year, subject to approval by the members.
The company said it will use proceeds to “replace few of its high-cost current or near-term maturity debts as well as to meet further funds requirements”.
Shares of the company settled 0.52% higher at Rs38.40 on BSE.
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