Future Enterprises' Q4 net loss widens to Rs 46.73 crore

Kishore Biyani-led Future Enterprises' standalone net loss widened to Rs 46.73 crore for the quarter ended on March 31, 2018.

The company had posted a net loss of Rs 39.34 crore in the corresponding quarter of the previous fiscal.

Future Enterprises' (FEL) total income stood at Rs 953.05 crore in the quarter under review. It was Rs 984.97 crore in the year-ago period, the company said in a BSE filing.

The company said revenue from operations (which is part of total income) for the current periods are not comparable with the corresponding earlier periods.

"Revenue from operations for the quarter...was reported inclusive of excise duty. Goods and service tax (GST) was implemented with effect from July 1, 2017, which replaced excise duty and other input taxes," it added.

In a separate filing, the company said its board approved raising up to Rs 1,500 crore via secured redeemable non-convertible debentures (NCDs) in one or more tranches within a year, subject to approval by the members.

The company said it will use proceeds to "replace few of its high-cost current or near-term maturity debts as well as to meet further funds requirements".

Shares of the company settled 0.52 per cent higher at Rs 38.40 on BSE.