Kishore Biyani-led Future Retail Ltd on Thursday reported a 16.72 per cent decline in consolidated net profit at ₹164.56 crore for the third quarter ended December 31, 2019.

The company had reported a net profit of Rs 197.60 crore in October-December quarter a year ago.

Total income fell 3.07 per cent to ₹5,208.89 crore during the quarter from ₹5,374.12 crore in the corresponding quarter last year.

Total expenses were 2.58 per cent lower at ₹5,042.46 crore as compared with ₹5,176.52 crore a year ago.

Future Retail has a network of 1,500 stores in over 400 cities. Its hypermarket and supermarket business is led by Big Bazaar, Big Bazaar GEN NXT, HyperCity, Foodhall, fbb, Food Bazaar, Easyday Club and Heritage Fresh.

Shares of Future Retail Ltd on Thursday closed 1.86 per cent higher at ₹377.10 on the BSE. 02131810