Kishore Biyani, chairman of Future Retail (Photographer: Namas Bhojani/Bloomberg News)

Q1 Results: Future Enterprises’ June Quarter Loss Narrows

Homegrown retail major Future Enterprises Ltd. today reported a standalone net loss of Rs 30.35 crore for the first quarter ended June. The loss is lower than Rs 45.46 crore it had recorded for the April-June quarter of last fiscal.

Total income stood at Rs 1,023.81 crore during the quarter under review, as against Rs 1,045.66 crore in the year-ago period, Future Enterprises said in a BSE filing.

Revenue from operations, part of total income, for the current period is not comparable with the corresponding earlier period, it said.

“Revenue from operations for the quarter ended June 30, 2017, was reported inclusive of excise duty. Goods and Service Tax was implemented with effect from July 1, 2017, which replaced excise duty and other input taxes. Revenue from operations for the quarter ended June 30 is reported net of GST,” the company said.

Future Enterprises’ shares ended 0.8 percent down at Rs 37.05 apiece on the BSE.