Future Enterprises Q1 result: Net consolidated loss rises to Rs 295.15 crore

Kishore Biyani-led Future Enterprises has reported Rs 295.15 crore consolidated loss for the April-June quarter, in comparison with Rs 293.78 crore loss throughout the identical interval final 12 months.

For the 12 months ending March 31, 2021, the corporate, which was severely impacted by the nationwide lockdown imposed in the course of the first Covid wave final 12 months, had recorded a web consolidated lack of Rs 1,121.79 crore.

Within the earlier quarter ending March 31, Future Enterprises’ consolidated loss stood at Rs 271.82 crore. The corporate’s income from operations for the stated quarter stood Rs 448.12 crore vs Rs 304.39 throughout the identical interval final 12 months. In This fall FY22, Future group’s income stood at Rs 545 crore.

Complete bills within the stated quarter stood Rs 768.37 crore vs Rs 639.27 within the year-ago interval.

“The outbreak of Covid-19 pandemic has created financial disruption all through the world, together with India. Consequently, the income and profitability for the quarter ended June, 2021, has been adversely impacted,” the corporate stated in a press release.

The corporate stated it’s intently monitoring the event and potential results on the monetary situation, liquidity,  operations, and is actively working to minimise the influence of this unprecedented state of affairs.

In the meantime, Future Enterprises subsidiary Future Coupons has moved the Supreme Courtroom right now, difficult the Delhi HC order on the Reliance-Future group deal. The corporate, in one other assertion to the inventory exchanges, stated the Future group promoters have lodged “a Particular Go away Petition towards Amazon earlier than the Supreme Courtroom to problem the orders handed by the Delhi Excessive Courtroom in execution proceedings for imposing the interim order dated 25 October 2020 of the Emergency Arbitrator”.

“These proceedings are prone to be listed and heard by the Hon’ble Supreme Courtroom,” it stated. The Future Enterprises inventory closed at Rs 9.05, which is Rs 0.15 or 1.69 per cent up, on the NSE right now.

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