Future retail has a loss of 692 crore

Kishore Biyani-controlled Future Retail Limited (FRL) reported a consolidated net loss of Rs 692.36 crore for the quarter ended September this year. In the information given to the stock markets, the company said that the losses were caused by the problems caused by the Kovid-19 epidemic.

This earned the company a net profit of Rs 165.08 crore in the same quarter of the previous financial year. The operating income of the company declined by 73.86 percent to Rs 1,424.21 crore in the quarter under review, from Rs 5,449.06 crore in the same quarter of the previous fiscal.

FRL told the stock exchanges that its expenditure had come down to Rs 2,181.85 crore in the quarter under review, from Rs 5,304.80 crore in the same quarter of the previous fiscal. At the same time, it has a net loss of Rs 1,254.31 crore in the first half of the current financial year (April-September 2020). The company had posted a net profit of Rs 324.32 crore in the same period of the previous financial year.