Future Lifestyle Fashions posts Q3 net loss of Rs 156.87 cr
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The company reported standalone net loss during the quarter stood at Rs 156.87 crore compared to net profit of Rs 56.81 crore in the previous year quarter. Net revenue of the company declined substantially by 44.98 per cent at Rs 916.90 crore in October-December quarter of this fiscal as against Rs 1,666.60 crore in the corresponding period last year. During October-December quarter, operating expenses dropped by 36.58 per cent to Rs 860.43 crore from Rs 1,356.76 crore in year ago period. Other Income grew by 16.36 per cent at Rs 13.30 crore versus (Dec'19 Rs 11.43 crore).
Operating Profit slipped by 81.77 per cent to Rs 56.47 crore as against Rs 309.84 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 66.86 per cent in December quarter. Interest grew by 24.18 per cent y-o-y to Rs 86.85 crore, while Taxation decreased by 98.39 per cent at Rs 0.32 crore (Dec'19 Rs 19.83 crore).
