Pantaloon Retail net up 15.3% to Rs 18.8 cr

CORPORATE SCORECARD

Future group company Pantaloon Retail has posted a 15.28 per cent increase in net profit at Rs 18.71 crore for the third quarter ending March 31, 2006, compared with Rs 16.23 crore posted in the corresponding quarter previous year.

The retailer's net sales went up by 89.23 per cent at Rs 861.04 crore in the fourth quarter of FY07 compared with Rs 455.39 crore it registered in the same quarter previous year. Increased spending on the inventories and opening of new stores boosted the top line and increased the net profit marginally, the company said.

The company's net went up by 109 per cent at Rs 101.32 crore for the nine months ending March 31, 2007, as compared to Rs 48.32 crore in the same period previous year.

Its top line for the first nine months ending March 31, 2007 also went up 71 per cent at Rs 2217.09 crore from Rs 1292.61 crore in the corresponding period previous year.

The company board approved setting up a subsidiary company to deal in FMCG products with a brand to be created around the brand values of cricket star Sachin Tendulkar. It also approved an initial investment of up to Rs 5 crore in the venture.

The board also approved setting up two wholly-owned subsidiaries for sourcing and vendor management of various products for web and e-commerce, and for sourcing, selling mobile communication and accessories on wholesale and cash and carry basis with investment of up to Rs 5 crore in each subsidiary.