Future Lifestyle Fashion Q3 net profit up touches Rs 44 crore

Future Lifestyle Fashion’s net profit has increased 24 per cent to reach Rs 44 crore (approx $ 7 million) for the quarter ended December 2017. FLF’s overall revenue increased to Rs 1,237 crore from the Rs 1,066 crore it posted in the corresponding period last fiscal. According to the company it profited from fruitful transition in Goods and Services Tax regime. The development of numerous brands and flagship stores across the country also added to growth story.

The company extended its joint venture with footwear firm Clarks by another 10 years up to 2030 during the quarter. It will also give Future Group access to fresh markets like Sri Lanka, Bangladesh and Nepal where it will be the high-class partner.

Future Group brands Cover Story also extended its retail presence through exclusive brand. It added two Central stores and three Brand Factory stores during the quarter. The company ended the quarter with a total of 345 retail stores for all its brands across India.