17 August 2022, Mumbai:
The company had posted a consolidated net loss of Rs 149 crore in the January-March quarter a year ago, Future Lifestyle Fashions Ltd (FLFL) said in a regulatory filing.
Future Lifestyle Fashions Ltd (FLFL) revenue from operations during the quarter under review declined by 27.04 percent to Rs 607.42 crore from 831.62 crores in the March quarter of FY21.
During the quarter, Future Group owner Kishore Biyani enterprise total expenses were higher at Rs 1,438.35 crore from Rs 984.05 crore in the year-ago period, it said.
The company said it incurred losses primarily due to "provision for diminution of investments, doubtful provision for receivables, the lower sales volumes, finance costs, and depreciation".
As of March 31, 2022, the company said 34 Central stores and 78 Brand Factory stores were non-operational.
FLFL (Future group) has in-house retail chains Central and Brand Factory, Exclusive Brand Outlets (EBOs), and other Multi-Brand Outlets (MBOs of nearly a dozen apparel labels, including - Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana in its portfolio.
For the financial year ended March 2022, Future Lifestyle Fashions Ltd (FLFL)'s revenue from operations was at Rs 2,993.93 crore.
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