Future Consumer Ltd on Friday reported a consolidated net loss of Rs 175.46 crore for the quarter ended March 2020. The company had reported a net profit of Rs 7.53 crore in the January-March period of the preceding fiscal, Future Consumer said in a BSE filing.
According to a PTI report: Revenue from operations slipped 8.70 percent to Rs 947.07 crore, as against Rs 1,037.37 crore earlier.
The company is engaged in the business of sourcing, manufacturing and marketing FMCG and processed food products.
“COVID-19 started impacting the performance towards the end of March leading to disruptions in sourcing, supply chain and distribution impacted by store closures due to lockdown,” the company said in a post-earnings investor presentation.
According to the Future Group firm, its gross margin was “impacted by one time liquidation in Processed Food and HPC (home and personal care) and incremental share of essentials.”
Total expenses were at Rs 1,051.87 crore, up 0.77 percent from Rs 1,043.79 crore in January-March FY2019.
For the full fiscal 2019-20, Future Consumer posted a net loss of Rs 216.50 crore. It had reported a net loss of Rs 7.18 crore in the previous financial year.
However, revenue from operations rose 4.11 percent to Rs 4,040.33 crore from Rs 3,880.64 crore in 2018-19.