Future Enterprises rakes in net profit of Rs 16.53 cr in Q4

India’s retail major Future Enterprises (FEL) has reported a standalone net profit of Rs 16.53 crores for the fourth quarter ended March 2016. The company has posted a net profit of Rs 10.31 crores in the January-March quarter of the previous fiscal.

The company was earlier known as Future Retail. FEL’s net sales were Rs 676.88 crores in the quarter under review. A year ago it had net sales of Rs 2,739.76 crores. However, the company has issued a statement that the figures are not comparable with the previous year/quarter due to the demerger of the retail business into Bharti Retail and demerger of the retail infrastructure of FRL into the company.

For the entire 2015-16 fiscal, FEL’s standalone net profit was at Rs 11.83 crores. It was Rs 74.06 crores in the fiscal previous to it. Its net sales were at Rs 7,981.08 crores in 2015-16 as against Rs 10,157.79 crores in 2014-15.

FEL has three major operations – leasing, manufacturing and investments. Earnings from its lease rentals stands at Rs 550-750 crores and from manufacturing at Rs 100-300 crores.