198 India News
No Result
View All Result
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • NEWS
    • INDIA USA TRADE NEWS
    • INDIA AFRICA NEWS
    • INDIA EU NEWS
    • INDIA GULF NATIONS NEWS
    • INDIA RUSSIA NEWS
    • INDIA NIGERIA NEWS
    • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
    • EDUCATION
    • VENTURE CAPITAL
    • JOINT VENTURE
    • INDIA UNIVERSITIES
    • 198INDIA MEDIA TRAINING
    • INDIA FUNDING OPPORTUNITIES
    • INDIA GOVERNMENT ASSISTANCE
    • INDIA PARTNERSHIP OPPORTUNITIES
    • INDIA UNTAPPED OPPORTUNITIES
    • INDIA MANUFACTURERS
    • 198TILG INDIA CEO
    • INDIA BUSINESS HELP
  • ASK IKE LEMUWA
  • CONTACT US
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • NEWS
    • INDIA USA TRADE NEWS
    • INDIA AFRICA NEWS
    • INDIA EU NEWS
    • INDIA GULF NATIONS NEWS
    • INDIA RUSSIA NEWS
    • INDIA NIGERIA NEWS
    • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
    • EDUCATION
    • VENTURE CAPITAL
    • JOINT VENTURE
    • INDIA UNIVERSITIES
    • 198INDIA MEDIA TRAINING
    • INDIA FUNDING OPPORTUNITIES
    • INDIA GOVERNMENT ASSISTANCE
    • INDIA PARTNERSHIP OPPORTUNITIES
    • INDIA UNTAPPED OPPORTUNITIES
    • INDIA MANUFACTURERS
    • 198TILG INDIA CEO
    • INDIA BUSINESS HELP
  • ASK IKE LEMUWA
  • CONTACT US
No Result
View All Result
198 India News
No Result
View All Result
Home INDIA USA TRADE NEWS

Future group: Future Retail Q1 loss widens to Rs 1,147 cr

by Gias
August 14, 2021
2 min read
0


RELATED POSTS

defence stocks: 20% CAGR for defence stocks visible to us in terms of order inflows: Harshit Kapadia

Student Loan: Now is the time for Indian graduates to refinance their study abroad loans

riverdale: Sabrina Returns! Riverdale announces its release date for Season 6, Episode 19, here are all the updates

Future Retail Ltd (FRL) on Saturday reported widening of its consolidated web loss at Rs 1,147.28 crore for June quarter 2021-22, impacted by the second wave of the pandemic. The corporate had posted a web lack of Rs 552.91 crore for April-June interval a yr in the past, FRL mentioned in a BSE submitting.

Complete revenue was all the way down to Rs 1,407.11 crore throughout the quarter underneath evaluation from Rs 1,447.62 crore within the year-ago interval.

Complete bills of FRL, which operates retail shops like Huge Bazaar, fbb, Foodhall, Easyday and Nilgiris, had been at Rs 2,554.39 crore as towards Rs 2,000.53 crore.

“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 have been adversely impacted,” it mentioned.

The Kishore Biyani-led Future Group agency mentioned it has entered into debt restructuring of the present monetary debt of the corporate underneath an RBI introduced decision framework for COVID-19 associated stress.

“The One Time Restructuring (OTR) has been carried out by execution of the paperwork by the corporate and eligible lenders on April 26, 2021,” it mentioned.

FRL additionally shared the updates concerning the ongoing dispute with e-commerce main Amazon over the sale of retail and wholesale, and logistics and warehousing enterprise to Reliance Retail, by the Future Group.

Buy JNews
ADVERTISEMENT

It has filed two functions earlier than the Singapore Worldwide Arbitration Centre (SIAC), difficult the October 25, 2020 order of the Emergency Arbitrator (EA) restraining the Future Group from going forward with its Rs 24,713-crore take care of

, which owns Reliance Retail.

“Additional, in relation to the Arbitration Proceedings, a Tribunal has been constituted by SIAC on January 5, 2021 and the corporate has filed two functions earlier than the Tribunal, first being an software underneath part 16 of the Act difficult the jurisdiction of the Tribunal; and second, being an software underneath Rule 10 of Schedule I of SIAC Guidelines for the holiday of the EA Order.

“The listening to for each the functions was concluded on July 16, 2021, and verdict of the Tribunal is awaited on the mentioned functions,” it mentioned.

In August final yr, the board of the corporate had accepted the amalgamation of FRL together with different group firms with Future Enterprises Ltd to facilitate the Rs 24,713 crore deal to promote the retail and wholesale enterprise to Reliance Retail.

FRL mentioned it “intends to pursue all out there avenues to conclude the deal” to guard the pursuits of its stakeholders and workforce.



Source link

Tags: FutureGrouplossretailwidens
ShareTweet
Previous Post

Turkey floods: Distressed victims recount their ordeal

Next Post

Vinesh Phogat sends apology to WFI, may still not be allowed to compete at Worlds | More sports News

Related Posts

INDIA USA TRADE NEWS

defence stocks: 20% CAGR for defence stocks visible to us in terms of order inflows: Harshit Kapadia

June 27, 2022
INDIA USA TRADE NEWS

Student Loan: Now is the time for Indian graduates to refinance their study abroad loans

June 27, 2022
INDIA USA TRADE NEWS

riverdale: Sabrina Returns! Riverdale announces its release date for Season 6, Episode 19, here are all the updates

June 27, 2022
INDIA USA TRADE NEWS

Dollar Index Edges Lower as Investors Gauge Fed Rate Path

June 27, 2022
INDIA USA TRADE NEWS

Crypto Price Today: Bitcoin, Ethereum drop 1% each; Dogecoin rallies 11%

June 27, 2022
INDIA USA TRADE NEWS

Concerns grow that India being used as potential ‘back door’ into Europe for Russian oil

June 26, 2022
Next Post

Vinesh Phogat sends apology to WFI, may still not be allowed to compete at Worlds | More sports News

Haiti earthquake updates: At least 29 killed in powerful Haiti earthquake: govt

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Recent Posts

  • Proptech still has fundamental problems for entrepreneurs to solve – TechCrunch
  • Mum and her six-year-old daughter gang-raped in moving car after accepting lift from group of men in India’
  • Top Crypto Prices Today: All Top Cryptos In Red, Crypto M-Cap Declines Post Scaling $1 Tn
  • Donald Trump’s Truth Social app under fresh legal scrutiny
  • Suvendu Adhikari: After Maharashtra, crisis on cards for J’khand, Rajasthan; TMC govt will also collapse: Suvendu Adhikari
  • G7 Summit PM Modi invites rich nations to tap huge market for clean energy technologies in India Germany
  • UK to remove visa requirement for GCC nationals visiting from 2023
  • Another pandemic around the corner? Experts warn of ‘Disease X’ in UK, details here | World News
  • Tantrik Among 2 Held for Murder of 9 Members of Family Over ‘Secret Money’
  • PM Modi highlights India’s efforts for green growth, clean energy at G7 summit session
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2021 198 India News.
All Rights Reserved.

No Result
View All Result
  • HOME
  • VIDEOS
  • BUSINESS
  • INDIA NEWS
  • INDIA USA TRADE NEWS
  • INDIA AFRICA NEWS
  • INDIA EU NEWS
  • INDIA GULF NATIONS NEWS
  • INDIA RUSSIA NEWS
  • INDIA NIGERIA NEWS
  • INDIA UK NEWS
  • POLITICAL
  • IMMIGRATION
  • TECHNOLOGY
  • EDUCATION
  • VENTURE CAPITAL
  • INDIA JOINT VENTURE NEWS
  • INDIA UNIVERSITIES
  • 198INDIA MEDIA TRAINING
  • INDIA MANUFACTURERS
  • INDIA BUSINESS HELP
  • 198TILG INDIA CEO
  • INDIA FUNDING OPPORTUNITIES
  • INDIA PARTNERSHIP OPPORTUNITIES
  • INDIA GOVERNMENT ASSISTANCE
  • INDIA UNTAPPED OPPORTUNITIES
  • ASK IKE LEMUWA
  • CONTACT US

Copyright © 2021 198 India News.
All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In