Future Group stocks in focus; Future Retail hits 52-week high

Future Enterprises, Future Retail and Future Consumer were up over 3% in intra-day trade.

Shares of Kishore Biyani promoted Future Group companies were in focus with all listed companies trading at their respective 52-week highs in an otherwise weak market.

Future Enterprises (up 16% at Rs 29), Future Market Networks (15% at Rs 60), Future Lifestyle Fashion (8% at Rs 202), Future Consumer (6% at Rs 28) and Future Retail (3% at Rs 228) from the Future Group hit 52-week highs on the BSE in intra-day trade. At 12:21 pm; the S&P BSE Sensex was down 0.13% at 28,299.

Future Group’s businesses focus on developing and operating modern retail, brands and distribution networks for the consumption sector in India.

The group’s flagship companies focus on three distinct businesses – hypermarkets business operated by Future Retail, an integrated lifestyle fashion business operated by Future Lifestyle Fashion, an FMCG and food distribution business operated by the Future Consumer Enterprise and infrastructure and backend services operated by Future Enterprises.

The group’s flagship company, Future Retail operates national hypermarket chain, Big Bazaar and supermarket chain, Food Bazaar, on Tuesday reported 36% quarter on quarter (QoQ) growth in its net profit at Rs 101 crore in December quarter (Q3FY17). EBITDA (earnings before interest, tax, depreciation and amortization) margins expansion of 50 basis points to 3.8% from 3.3% in previous quarter.

Same store sales growth (SSG) of Big Bazzar improved to 15.3% in December quarter against 15.1% in September quarter. However, overall SSG declined to 12.5% from 13.1%.