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Future Lifestyle Fashions formulates strategy for cost reduction

  

Future Lifestyle Fashions has formulated a strategy for renegotiation its rental cost and also identified key drivers for reducing operating, personnel and other major costs and optimizing the cost commensurate with the operations, post COVID-19. The company reported a consolidated loss of Rs 148.65 crore in its fourth quarter ending on March 2020. Its total income rose by 4.47 per cent year-on-year (YoY) to Rs 1,442.96 crore during the quarter while total expenses jumped by 17.14 per cent YoY to Rs 1,579.55 crore.

For the full financial year, Future Lifestyle's EBITDA declined 9.4 per cent YoY to Rs 511 crore. Similarly, loss for FY20 stood at Rs 34 crore, down from profit of Rs 189 crore in FY19. Considering the impact on its revenues, the company aims to review and reduce costs as far as possible.

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Brands, marketplaces expect a strong rebound this festive season

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CMAI’s 71st National Garment Fair, India’s first digital garment fair takes off

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