Future Lifestyle Fashions has reported a net loss of of Rs 186.66 crore for the fourth quarter ended March 31, 2014. The company had posted net profit of Rs 0.13 crore in the same quarter last year.
Net sales of the company stood at Rs 2,660.81 crore for 2013-14 and Rs 700.80 crore for the period between January and March. However, for the financial year 2013-14, the company had a net profit of Rs 23.28 crore compared to Rs 0.34 crore in the last fiscal.
The business of the company has been vested pursuant to the scheme of the arrangement by way of demerger from the Pantaloon Reatil (now known as Future Retail Ltd) and Future Venture India (now known as Future Consumer Enterprises Ltd. Accordingly, the financial results and accounts of the current quarter/year are not comparable with that of corresponding quarter of the previous year, Future Lifestyle Fashions stated.
