Future Retail Q1 net profit at Rs 66.48 cr

Future Retail Ltd today reported standalone net profit of Rs 66.48 crore and net sales of Rs 2,317.15 crore for the first quarter ended June 30, 2014-15.
The company had posted net loss of Rs 9.46 crore and net sales of Rs 338.14 crore in Q1 of 2013-14 fiscal, Future Retail said in a BSE filing.
Overall expenses stood at Rs 2,248.89 crore in Q1, 2014-15 as against Rs 340.81 crore in the same period a year ago.
The company said previous corresponding period details are not comparable with the current period because it had merged a subsidiary - Future Value Retail Ltd last fiscal. FVRL runs Big Bazaar and Food Bazaar.

During the quarter, Future Retail also filed initial papers with market regulator Sebi to raise up to Rs 1,600 crore through a rights issue.
The company scrip closed at Rs 123.20, up 1.73 per cent, on the BSE.