Future Group firm Pantaloon Retail today reported consolidated net profit of Rs
257.90 crore for the September quarter. The company had posted a consolidated
net profit of Rs 15.05 crore in the corresponding period last year, but the
company said the numbers cannot be compared as it has extended its accounting
year till December 30.
Pantaloon's net sales for the quarter stood at Rs 3,542.84
crore as against Rs 3,180.26 crore a year ago. In a separate exchange filing,
Pantaloon and Future Ventures India said their boards approved a proposal to
consolidate their fashion businesses into a new, to-be-listed entity Future
Fashion.
Future Fashion will own and operate retail chains Central,
Brand Factory, all and Planet Sports. It will operate around 3.5 million square
feet of retail space across 140 departmental and specialty retail stores.
"This consolidation will help create the base for the next phase of growth
of the Future Group in modern retail. We grew multiple formats in the early
stages of our growth, and now as each one of them has become sizable, we are
giving them independence to propel their growth," Future Group chief
executive Kishore Biyani said.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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