Future Retail spurted 16.45% to Rs 94.50 at 11:29 IST on BSE after the company reported a net profit of Rs 21.74 crore in the quarter ended 31 December 2013 as against net loss of Rs 20.41 crore in the quarter ended 31 December 2012.
The result was announced after market hours on Thursday, 13 February 2014.
Meanwhile, the S&P BSE Sensex was up 26.85 points or 0.13% at 20,220.20.
On BSE, so far 30.01 lakh shares were traded in the counter as against average daily volume of 6.99 lakh shares in the past one quarter.
The stock hit a high of Rs 97.35 and a low of Rs 82.05 so far during the day. The stock had hit a 52-week high of Rs 237.50 on 13 February 2013. The stock had hit a 52-week low of Rs 63.30 on 1 August 2013.
The stock had outperformed the market over the past one month till 13 February 2014, sliding 2.99% compared with the Sensex's 4.45% fall. The scrip had also outperformed the market in past one quarter, surging 11.09% as against Sensex's 0.01% fall.
The small-cap company has equity capital of Rs 46.31 crore. Face value per share is Rs 2.
Future Retail's total income rose 80.81% to Rs 2331.33 crore in the quarter ended 31 December 2013 over the quarter ended 31 December 2012.
Future Retail said that the scheme of Amalgamation and Arrangement of Future Value Retail (FVRL), a wholly owned subsidiary company with the company under the provisions of section 391-394 of the Companies Act,1956 for merger of FVRL with effect from 1 July 2012 has been given effect in accounts for the quarter ended 31 December 2013 after receipt of approval of High Court of Judicature at Bombay on 31 January 2013 and scheme has been made effective upon filing of the certified copy of court order with Registrar of Companies, Maharashtra on 11 February 2014. Pursuant to the same all the assets and liabilities of FVRL merged and vested in the company. In view of the same, the financial results of the present quarter and twelve months ended 31 December 2013 include performance of the FVRL. Accordingly, the previous period's figures are not comparable, Future Retail said.
Future Retail, earlier known as Pantaloon Retail (India), is the flagship company of the Future Group. It is leading retailer that operates multiple retail formats in both value and lifestyle segment of Indian consumer market.
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