Future Retail posts Rs 8 crore loss

Kishore Biyani promoted Future Retail has posted a loss of Rs 8 crore for the quarter ending September 30, 2014 as compared to a profit of Rs 66 crore in the corresponding quarter of previous financial year. But the company said the numbers are not comparable as it has demerged its fashion business and listed it separately during the last quarter.

The company posted a net sales of Rs 2,263 crore in September quarter of FY 2014.

The same store sales growth of Future value retail, which operates Big Bazaar, went down from 10.4% in June quarter to 8% in September quarter of FY 2014, while that for its standalone business, which includes its home and consumer durables chains Home Town and eZone went up from 3.7 in June quarter of FY 2014 to 7.4% in September quarter.

Future Lifestyle Fashion, the recently listed company of Future Group, posted a net profit of Rs 109 crore on a net sales of Rs 690 crore during the September quarter of FY 2014. The company's mall format Central posted same-store sales growth (SSG) of 19.3%, while entire retail business posted a SSG of 15.2%.