Pantaloon reports third quarter profits

Pantaloon Retail India has reported a net profit of Rs 32.50 crores

for the third quarter ended March 31, 2010. It had a net profit of Rs 34.37 crores during the same period a year ago. The results of the third quarter and nine-month period are not comparable as the company has transferred its value retail business to its wholly-owned subsidiary Future Value Retail. The company earned a net income of Rs 602.10 crores in the quarter under review while it stood at Rs 1,642.09 crores in the same period previous year. For the nine-month period ended March 31, 2010, it posted a net profit of Rs 126.99 crores whereas it was Rs 104.09 crores in the same period previous year.

The company, the flagship of Future Group operates multiple retail formats in both the value and lifestyle segments. It operates over 12 million sq. ft. of retail space and has over 1,000 stores across 71 cities in the country. The company’s formats include Pantaloons, a chain of fashion outlets, Big Bazaar, a hypermarket chain, and Food Bazaar, a supermarket chain. The retailer is among India's largest chain of fashion stores. Pantaloons Fresh Fashion, with its focus on fresh look, feel and attitude offers, trendy and hip collections that are in sync with the hopes and aspirations of discerning young and 'young-at-heart' consumers.