Indian private conglomerate Future Lifestyle Fashion Ltd (FLFL), part of Kishore Biyani-led Future Group, has announced results for its third quarter ended December 2016. In the period under review, the retailer posted an 18.94 per cent drop in its net profit to Rs. 15.94 crore.
The company had posted a net profit of Rs. 19.66 crore in the corresponding period last fiscal. Increase in expenses during the fiscal is the main reason behind the fall in net profit. During the period, the retailer’s overall expenses went up by 23.92 per cent to Rs. 1,011.86 crore as compared to Rs. 816.54 crore in the same quarter of last fiscal.
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Future Lifestyle Fashion is an integrated fashion company operating over 4 million square feet of retail space and is backed by over two dozen domestic and global fashion brands which also have their independent distribution network.
