Future Consumer Enterprise Q4 loss at Rs 25.82 crore

Future Consumer Enterprise Ltd, a part of Kishore Biyani-led Future Group, today reported a consolidated net loss of Rs 25.82 crore for the fourth quarter ended on March 31, 2016.
The company had posted a net loss of Rs 49.68 crore in the corresponding quarter a year ago.
Its net sales stood at Rs 424.74 crore in the fourth quarter of the current fiscal. It stood at Rs 351.57 crore in the same quarter last fiscal, Future Consumer Enterprise Ltd (FCEL) said in a BSE filing.
The results of quarter under review are not comparable with the corresponding quarter mainly due to acquisition of subsidiaries and associates such as KBFP, KBCP, Big Apple, Aadhar and Nilgiris, the company said.

"The figures for the current quarter and year are not comparable with those of corresponding quarter previous quarter and year on account of acquisitions of various subsidiaries and associates in the previous and current year," FCEL said.
For the entire fiscal 2015-16, FCEL had consolidated net loss of Rs 112.78 crore. It had a net loss of Rs 102.76 crore in 2014-15.

Its consolidated net sales stood at Rs 1,730.53 crore in the 2015-16 fiscal while it was Rs 1,294.46 crore a year ago.
Meanwhile, in a separate filing FCEL informed that its board in a meeting held today approved to issue upto 13,400 compulsorily convertible debentures of face value Rs one lakh aggregating to Rs 134 crore and upto 100 equity shares of face value of Rs 6 each at a price of Rs 22.73 per equity share to International Finance Corporation on a preferential basis.

"The CCDs are convertible into equity shares of the company within 18 months from the date of allotment, at a conversion price of Rs 22.73 per equity share," it said.
Shares of FCEL today settled 2.90 per cent lower at Rs 21.75 at BSE.