Future Enterprises reports Rs 320 crore loss in Q2

For its second quarter ending September 2020, Future Enterprises reported a consolidated net loss of Rs 320.56 crore on account of lower revenue from operations. The company had posted a net profit of Rs 21.78 crore in the corresponding quarter a year ago. Revenue from operations during the September quarter declined to Rs 237.88 crore as against Rs 1,699.84 crore reported in the corresponding quarter last fiscal. The company was impacted by the COVID-19 pandemic and consequent lockdown imposed throughout the country.

Developer of retail infrastructure for the Future Group, Future Enterprises handles backend operations of the retail business of the group. The company also holds Future Group's investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.

On August 29 this year, the Future Group merged its key group companies, including Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks into FEL.