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Future Supply Chain Solutions posts 57% jump in Q3 profit to Rs 19.7 cr

Future group's revenue was up 43.2% to Rs 332.6 crore; company to increase use of automation going forward

Dilip Kumar Jha  |  Mumbai 

Future Supply
FILE PHOTO: Kishore Biyani at a warehouse operated by Future Supply Chain Solutions in Nagpur | Photo: Bloomberg

Future group company, (FSC), has posted 57 per cent rise in its net profit to Rs 19.7 crore for the quarter ended December 31, 2018 from Rs 12.6 crore in the corresponding period last year.

Total revenue of the company rose 43.2 per cent to Rs 332.6 crore for the October-December 2018 quarter, from Rs 232.3 crore for the same period last year.

ALSO READ: Future Supply Chain says will double warehousing capacity in next 2-3 years

Total warehousing area of the company shot up by a staggering 68 per cent to 7.31 million square feet during the third quarter of the current financial year as against 4.36 million square feet in the comparable period last year.

“This has been a great quarter for FSC, with both revenue and profit growth surpassing expectations. The strong momentum continued in new client acquisitions, thereby further consolidating our position as one of the fastest growing logistics solution provider in India," said Mayur Toshniwal, Managing Director, FSC.

ALSO READ: Future Group bets big on food delivery business, to invest Rs 1,000 crore

"In the coming months, we will be implementing newer technologies and increase the use of automation in our operations, such as robotics and voice picking. This will further drive our business intelligence and create value for our stakeholders and customers,” he added.

First Published: Fri, February 08 2019. 17:25 IST