Future Retail shares spurt 20% on turnaround in Dec earnings

Shares of Future Retail skyrocketed by 20 per cent today after the company reported a net profit of Rs 21.74 crore for the quarter ended December 31, 2013.

Cheering the good results, the company's scrip opened the day on a strong note and gained 19.96 per cent to Rs 97.35 on the BSE.

At the NSE, the stock soared 19.95 per cent to Rs 97.70.

The company's result was announced after market hours yesterday.

It had posted a net loss of Rs 20.41 crore in the same quarter last year.

The company's net sales during the December quarter was Rs 2,276.30 crore, against Rs 1,252.85 crore in the year-ago period.