Future Retail registers profit in Q2

One of India's largest retail groups led by Kishore Biyani, Future Retail closed the second quarter ending September 2023 with a net profit of Rs 13.66 crore as against a loss of Rs 8.04 crore in the previous quarter.
Reflecting a robust performance, the company’s net income from operations surged by 22 per cent from Rs 2,546.01 crore to Rs 3,098.42 crore.
Same-store sales of the company witnessed a notable uptick, with a growth of 10.4 per cent in the value business segment and 4.2 per cent in the home business segment. Same-store sales analysis focuses solely on stores that were operational during both comparative periods, offering insights into organic growth.
Furthermore, Future Retail recently forged an alliance with Patanjali Ayurveda, founded by Yoga Guru Ramdev. Expressing optimism about the prospects of this collaboration, Biyani anticipates, the partnership could potentially generate a business volume of 1,000 crore within 20 months.