This Article is From Nov 07, 2014

Future Lifestyle Posts Profit of Rs 7 Crore in Q2

New Delhi: Future Lifestyle and Fashions Ltd (FLFL) on Friday reported a net profit of Rs 6.98 crore for the second quarter of the ongoing fiscal year (2014-15).

The company had registered a net profit of Rs 108.90 crore for the corresponding period of the previous fiscal year (2013-14), on the account of other income of Rs 190.82 crore.

During July-September 2014, FLFL's net sales stood at Rs 874.12 crore, up 26.68 per cent as against Rs 690.01 crore in the corresponding period a year ago, the company said in a filing to the BSE.

In corresponding quarter of the previous year, FLFL had divested its 25.8 per cent stake in BIBA Apparels in favour of a private equity (PE) fund for Rs 190 crore.

Future Retail demerged its fashion business in November 2012 and formed a new company - Future Lifestyle Fashions (FLFL). FLFL has a portfolio of over 40 fashion and lifestyle brands.

Shares in FLFL, on Friday, ended at Rs 90.60 apiece on the BSE, down 1.63 per cent from the previous close.