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Future Lifestyle Fashion (FLFL), part of Kishore Biyani-led Future Group, reported on Friday a 23.98 per cent growth in its net profit at Rs 444.5 million (Rs 44.45 crore) for the third quarter ended December 2017. The company had posted a net profit of Rs 358.5 million (Rs 35.85 crore) in the same quarter of last fiscal. Its total income during the quarter under review stood at Rs 12.36 billion.
It was at Rs 10.66 billion (Rs 1,066.21 crore) in the corresponding period of the last fiscal, the company said in a BSE filing. The company said total revenue from operations for the quarter was not comparable with corresponding earlier period, consequent to introduction of goods and services tax on July 1. Revenue from operations for the earlier periods (before July 1) included excise duty which is now subsumed in GST. Shares of FLFL closed 6.39 per cent lower at Rs 355.25 apiece on the BSE.