Future Retail hits lower circuit for fifth straight day, slips 34% in 1 wk

The company reported a consolidated net loss of Rs 478 crore in March 2020 quarter against a profit of Rs 203 crore in year-ago period.

Shares of Future Retail (FRL) were locked in the lower circuit limit for the fifth straight session on Monday, down 5 per cent at Rs 106.85 on the BSE after the company reported a consolidated net loss of Rs 478 crore for the March quarter (Q4FY20), due to higher depreciation and other expenses. Future group company, which owns brands like Big Bazaar, fbb, Foodhall, Easyday and Nilgiris, had posted a net profit of Rs 203 crore in the year-ago quarter.

According to FRL, the nationwide lockdown has "significantly impacted the company's operational capabilities" as most of the stores were closed except