Net loss of Future Consumer declined to Rs 155.12 crore during the fourth quarter ended March 31, 2021, compared to that of Rs 175.46 crore in the year-ago quarter. The company’s revenue from FMCG arm, FCL declined 59.2 per cent to Rs 386.26 crore during January-March 2021 compared to Rs 947.07 crore in January-March 2020. Its total expenses declined by 52.5 per cent to Rs 500.06 crore, against Rs 1,051.87 crore in the year-ago period.
For the full fiscal year, which ended on March 31, 2021, FCL reported a consolidated net loss of Rs 483.30 crore against a net loss of Rs 216.50 crore in the previous year. Revenue from operations declined by 70.7 per cent to t Rs 1,184.51 crore in FY 2020-21 compared to Rs 4,040.33 crore in FY2019-20. The company had to face adverse impact on operations and sales due to the COVID-19 pandemic.
One of the Group's major customers had to invoke the force majeure clause and claim losses on inventory due to expiry/deterioration in the quality of the goods as either the stores were closed or experiencing very low footfalls.
