Future Consumer Q4 net loss declines to Rs 155.12 crore

Net loss of Future Consumer declined to Rs 155.12 crore during the fourth quarter ended March 31, 2021, compared to that of Rs 175.46 crore in the year-ago quarter. The company’s revenue from FMCG arm, FCL declined 59.2 per cent to Rs 386.26 crore during January-March 2021 compared to Rs 947.07 crore in January-March 2020. Its total expenses declined by 52.5 per cent to Rs 500.06 crore, against Rs 1,051.87 crore in the year-ago period.

For the full fiscal year, which ended on March 31, 2021, FCL reported a consolidated net loss of Rs 483.30 crore against a net loss of Rs 216.50 crore in the previous year. Revenue from operations declined by 70.7 per cent to t Rs 1,184.51 crore in FY 2020-21 compared to Rs 4,040.33 crore in FY2019-20. The company had to face adverse impact on operations and sales due to the COVID-19 pandemic.

One of the Group's major customers had to invoke the force majeure clause and claim losses on inventory due to expiry/deterioration in the quality of the goods as either the stores were closed or experiencing very low footfalls.