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Future Retail reports Q3 standalone net profit at Rs 183.14 cr

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Future Retail has posted a standalone net profit of Rs 183.14 crore for the third quarter ended December 2017.

According to a PTI report: The company had reported a net profit of Rs 101.05 crore in the October-December period of the previous fiscal.

Its total income stood at Rs 4,696.07 crore in the quarter under review. It was Rs 4,429.35 crore in the year-ago period, the company said in a BSE filing.

However, the company said the financial results of the current financial period are not fully comparable with previous years’ corresponding period due to merger of retail undertaking of Heritage Foods Retail with the company.

Revenue from operations for the current period are also not comparable with the corresponding earlier period due to introduction of GST from July 1 which replaced excise duty and other input taxes.

During the quarter, Future Retail also completed acquisition of Hypercity Retail (India), and demerger of HomeTown with effect from August 1, 2017.

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