Future Retail net profit jumps 110 per cent in April-June quarter

NEW DELHI: Kishore Biyani-owned Future Retail, which operates Big Bazaar supermarket chain, said net profit soared 110% to Rs 148 crore in the quarter to June on higher sales. Sales rose 18% year-onyear to Rs 4,707 crore, the company said on Tuesday.

It said same-store-sales for its flagship Big Bazaar and Food Bazaar supermarket chains stood at 16% for the quarter while Future Retail’s like-to-like growth for the period was 11.8%.

The company said it has successfully migrated to the goods and services tax.

"The company is now looking forward to several economic benefits and higher efficiencies on its pan-India network of stores," it said in an investors presentation.