Future Group may offload remaining stake in Pantaloons

Future Group, which is in the process of consolidating its businesses for growth, is considering offloading its remaining 14 percent stake in Pantanoons Fashion Retail. The company had earlier sold majority stake in the fashion chain to the Aditya Birla Group, to brings down its debt burden.

Going by the last closing price of the Pantaloons Fashion scrip, the remaining stake would be around Rs 154 crores. In 2012, he sold his majority stake in the company for Rs 1,600 crores. Last year, Kishore Biyani sold another 5 percent stake to Aditya Birla Nuvo, which took the AV Birla Group’s stake in the company to 72.62 percent.

For the nine-month period ended December 2014, Future Retail had a net profit of Rs 63.75 crores and revenue of Rs 7,418.3 crores. For the same period, net profit for Future Lifestyle Fashions stood at Rs 12.39 crores on revenue of Rs 2,280.65 crores. Future Consumer Enterprise reported net loss of Rs 53.08 crores for the period, on revenues of Rs 942 crores.