Future Lifestyle Fashions Q4 Net Down 14.98% At Rs 5.22 Crore

New Delhi: Future Lifestyle Fashions Ltd on Thursday reported 14.98 per cent decline in net profit at Rs 5.22 crore for the quarter ended March 31, 2016.

The company had posted a net profit of Rs 6.14crore in the same period previous fiscal, Future Lifestyle Fashions Ltd said in a BSE filing.

Net sales during the quarter under review stood at Rs 833.89 crore as against Rs 782.95 crore in the year-ago period, up 6.5 per cent, it added.

For the 2015-16 fiscal, the company said its net profit stood at Rs 29.47 crore as compared with Rs 18.55 crore in the previous fiscal, up 58.87 per cent.

The company said net sales for the year were at Rs 3,228.92 crore as against Rs 3,063.59 crore in the previous fiscal, up 5.39 per cent.

The board of directors of the company have recommended dividend of 40 paisa per equity share of Rs 2 each, it said.

Shares of Future Lifestyle Fashions Ltd ended at Rs 111.40 apiece, down 2.07 per cent on Thursday from its previous close on the BSE.

Later, in a filing, Future Lifestyle Fashions Ltd said that Future Group CEO Kishore Biyani has been re-appointed as the managing director of the company for the next three years.

The board of the company in a meeting held today approved "re-appointment of Kishore Biyani as MD of the company for a term of three years effective from June 25, 2016".

It has also approved appointment of Bijou Kurien as an Additional (Independent) Director of the company for five years.

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