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Future Retail posts net loss of Rs 692 cr in Q2, revenue declines 74%

Future Retail admitted in a statement that the Covid-19 pandemic had impacted its business significantly

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On Thursday, Future Retail told the Delhi High Court that Amazon was not its shareholder directly and therefore had no say in its affairs

Viveat Susan Pinto Mumbai
Future Retail, the flagship unit of the Future group, reported a net loss of Rs 692.36 crore for the quarter ended September 30, 2020, hit by disruptions caused by the Covid-19 pandemic. The company reported a profit of Rs 165.08 crore in the corresponding quarter of the last year.

Its revenue from operations was down nearly 74 per cent at Rs 1,424.21 crore during the quarter as stores remained shut and walk-ins were thin despite the government kicking off an unlock programme in July-September. The revenue from operations stood at Rs 5,449.06 crore in Q2FY20.

Future Retail admitted in a

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First Published: Nov 13 2020 | 8:51 PM IST

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