Future Retail closed Q2 with a net profit of 13.66 cr

Kishore Biyani led Future Retail which was running in loss has swung to a net profit in the second fiscal quarter.
Future Retail
One of India’s largest retail group led by Kishore Biyani, Future Retail which was running in loss has closed the second fiscal quarter with positive numbers. The company now runs into profit, said a company’s spokesperson.
Talking with numbers, the retail giant which was drowned into a loss of about 8.04 cr has closed the quarter through September with a net profit of 13.66 cr. The net income from operations rose about 22% to 3,098.42 cr from 2,546.01 cr.
Same store sales grew 10.4% in its value business and 4.2% in home business, according to company's financial statements. Same store sales take into account the performance of only those stores which were open at both periods compared.
The company recently formed an alliance with Pantajali Ayurveda, founded by Yoga Guru Ramdev. Biyani is hopeful that its stores will do a business of 1,000 cr in 20 months with Patanjali.
 
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