Future Retail reports Q2 results

16 November 2021, Mumbai:

Future Retail’s (FRL’s) losses widened in the July-September quarter (second quarter, or Q2) of 2021-22 (FY22) as expenses rose in the quarter.

The retail chain reported a net loss of Rs. 1,117 crore in Q2FY22, compared with a loss of Rs. 692.4 crore in the corresponding quarter a year ago. Its overall expenses in the quarter were up 60.4 percent at Rs. 3,500.8 crore.

The company also reported an operating loss of Rs. 339 crore, compared with an operating profit of Rs. 47 crore in the year-ago quarter.

However, the retailer’s revenue was up by 66.3 percent in the quarter at Rs. 2,369 crore.

Independent directors of the company wrote a second letter to the Competition Commission of India (CCI) stating that American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and actually wanted to invest in FRL through the foreign portfolio investment route. Business standard

(The news article has not been edited by DFU Publications staff)

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage