Future Lifestyle Q1 net profit drops 7%

Chennai: Future Lifestyle Fashions (FLFL), part of the Kishore Biyani-led Future Group, posted a 6.83 per cent fall in consolidated net profit at Rs 24.54 crore for the first quarter of 2019-20.

The company’s net profit stood at Rs 26.34 crore in the June quarter of last fiscal, it said in a regulatory filing.

Profit took a beating due to higher expenses, which rose to Rs 1,507.02 crore during the April-June period of the current fiscal from Rs 1,281.91 crore in the year-ago quarter. Total income increased to Rs 1,551.11 crore from Rs 1,328.19 crore earlier.

NT Bureau