Future Lifestyle Fashions, part of the Kishore Biyani-led Future Group, announced that their stocks fell by 1.64 per cent to Rs. 442.10!
This happened after the company’s consolidated net profit fell by 6.9 per cent to Rs. 24.54 crore on a 16.8 per cent rise in net sales to Rs. 1,540.30 crore, in Q1 July 2019 over Q1 July 2018.
Profit took a beating due to higher expenses than last year, which rose to Rs. 1,507.02 crore during the April-June period of the current fiscal from Rs. 1,281.91 crore in the year-ago quarter. The total income, however, increased to Rs. 1,551.11 crore from Rs. 1,328.19 crore earlier.
Almost 3,000 shares were traded in Future Lifestyle Fashions counter, compared to a 2-week average of 1,041 shares. The share price hit an intra-day high of Rs. 449.40 and an intra-day low of Rs. 426.20.
Future Lifestyle Fashions’ consolidated EBITDA increased by 124.2 per cent to Rs. 273 crore in Q1 July 2019 over Q1 July 2018. EBITDA margin stood at 17.8 per cent in Q1 July 2019 compared with 9.2 per cent in Q1 July 2018.
Future Lifestyle Fashions is the flagship fashion business of Future Group and operates in more than 300 stores in over 90 cities, occupying 5.7 million square feet of retail space.
