26.6% Hikes in Net Sales at Future Lifestyle

FLFLKishore Biyani led Future Lifestyle and Fashions Ltd (FLFL) reported a 26.68 per cent year on year hike in net revenues in second fiscal quarter ending September 30, 2014.

In a filing to the BSE, the company said its net sales stood at Rs 874.12 crore during the July-September 2014 quarter, up 26.68 per cent from Rs 690.01 crore in the corresponding quarter a year ago.

Profit from operations before other income, finance costs and exceptional items totaled Rs 51.86 crore, up more than four times from 12.77 crore in the same quarter of fiscal 2013-14.

FLFL reported other income of Rs 1.53 crore in the quarter under review as against Rs 190.82 crore in the July to September 2013 period. In the second quarter of fiscal 2013-14, it had divested its 25.8 per cent stake in Biba Apparels to a private equity fund for Rs 190 crore.

Profit from operations before finance costs and exceptional items touched Rs 53.39 crore in the second fiscal quarter of 2014-15 versus Rs 203.59 crore.

FLFL notched profit from ordinary activities after finance costs but before exceptional items at Rs 10.70 crore vis-a-vis Rs 161.19 crore in the year earlier quarter.

FLFL has four retail formats like Central, Brand Factory, Planet Sports and All, which markets plus size clothing. It also has over 40 apparel brands in its portfolio, inclusive of licenses to market Celio, Lee Cooper, Scullers, Indigo Nation, Converse, Spalding, Urban Yoga, etc.

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