Future Group’s retail arm Pantaloon Retail has posted a net profit of Rs 335.4 million for the quarter ended December 31, 2008. The figures, up 5.97 per cent over the corresponding period a year ago, came at a time when most of the corporates are busy discussing how to decline the pinch of ongoing economic slowdown .The company had a net profit of Rs 316.5 million in the same quarter last fiscal, said the company in a filing to Bombay Stock Exchange.
While, the total income has increased from Rs 12280.70 million for the quarter ended December 31, 2007 to Rs 15272.00 million for the quarter ended December 31, 2008.
In the quarter, Kishore Biyani-led Pantaloon Retail continued retail roll out at brisk pace – while total retail space now upwards of 12 million square feet, standalone retail space went up 33.5 per cent year-on-year to 8.6 million square feet.
Three Big Bazaars, including cut-in Food Bazaars, and one Pantaloons department store were opened in the quarter.
Pantaloon Retail operates multiple retail formats in both the value and lifestyle segment of the Indian consumer marker. It operates over 1000 stores across 61 cities in India. Its principal formats include Pantaloons, a chain of fashion outlets; Big Bazaar, an Indian hypermarket chain and Food Bazaar, a supermarket chain.
— Shailesh Shah