New Delhi:Future Retail on Monday reported a net loss of Rs463.62 crore for the quarter ended 31 March, 2018.
The company had posted a net profit of Rs123.05 crore in the same period a year ago. It reported exceptional expense of Rs603.87 crore in the reported quarter due to demerger of retail business undertaking of Hypercity Retail (India) with the company, which resulted in the loss.
Future Retail said financial results for the three months and twelve months ended 31 March, 2018 are not comparable with corresponding periods of previous year.
Revenue from operations (part of total income) for the quarter is reported net of GST. Therefore, revenue from operations for current periods are not comparable with the earlier periods, it added.
Total income stood at Rs4,577.79 crore during the period under review. It was Rs4,486.39 crore in January-March 2016-17, the company said in a BSE filing.
For 2017-18, Future Retail posted net profit of Rs11.31 crore. It was Rs368.28 crore in 2016-17. Total income in 2017-18 was at Rs18,489.64 crore. It was Rs17,089.89 crore in the previous year.
In October last year, Kishore Biyani-led Future Retail had announced that it would acquire Hypercity that operates 19 large format premium stores in some key cities from the K. Raheja group firm Shoppers Stop.
Shares of Future Retail settled 5.72% lower at Rs528.30 apiece on BSE.