Future Retail Posts Profit Of Rs 71 Crore In Q1

New Delhi: Future Retail, erstwhile Bharti Retail, on Tuesday reported a standalone net profit of Rs 70.55 crore for the quarter ended June 30.

The company had reported a net loss of Rs 86.95 crore for the corresponding period a year ago, it said in a regulatory filing.

Net sales were at Rs 3,891.51 crore in the quarter under review. The figure was at Rs 409.41 crore in the year-ago period.

"The numbers are not comparable pursuant to the scheme of arrangement between Future Retail and Bharti Retail," the company said.

In May last year, Future group had agreed to merge its retail business with rival Bharti Retail in an all-stock deal. 

The name of the company has been changed from Bharti Retail Ltd to Future Retail from May 25, 2016.

Shares in Future Retail, on Tuesday, ended 1.81 per cent lower at Rs 157.75 apiece on the BSE, whose benchmark Sensex index finished up 1.58 per cent.