Pantaloon Retail March qtr net at Rs 20 cr

The country's leading retailer Pantaloon Retail India (PRIL) today reported standalone net profit at Rs 20.10 crore for the quarter ended March 31, 2011.

In the same quarter last fiscal the company's net profit stood at Rs 14.07 crore.

The company said the results were not comparable with the previous fiscal on account of business realignment.

The firm's net sales for the quarter were Rs 1,031.01 crore, up from Rs 935.03 crore during the quarter ended March 31, 2010, PRIL said in a filing to the Bombay Stock Exchange (BSE).

The company's standalone net profit for the nine months period March 31, 2011 stood at Rs 57.60 crore, as against Rs 85.19% in the year-ago period.

PRIL's net sales during the nine months were Rs 3,047.76 crore, compared to Rs 4,992.32 crore in the same period last fiscal.

"In view of the realignment and transfer of 'value retail business' to its wholly owned subsidiary and two scheme of arrangement effected in previous financial year, the performance of the current nine months ended would not be comparable with corresponding nine months of the previous year," the filing said.

The company has posted consolidated net profit after minority interest of Rs 4.09 crore and net sales of Rs 3,022.11 crore for the quarter ended March 31, 2011.

For the nine month period, the company's consolidated net profit was Rs 40.15 crore and net sales were Rs 8,834.72 crore.

The firm posted an increase of 17.6% in turnover for its core retail business, that includes revenues of its wholly-owned subsidiary Future Value Retail.

For the quarter ended March 31, the core retail business turnover increased to Rs 2,811.92 crore from Rs 2,390.57 crore in March 31, 2010 on the back store expansion and same store sales growth.

The company's shares closed at Rs 240.80 per share, up 0.29% compared to the previous close on the BSE. PRIL's results announcement however came after the markets closed.