Future Retail reports Rs 70 crore net profit in June quarter

MUMBAI: The country’s top retailer Future Retail has posted a net profit of Rs 70 crore for the quarter ended June compared to a loss of Rs 87 crore a year earlier.

The operator of hypermarket chains Big Bazaar and Easyday reported net sales of Rs 3,891.51 crore versus Rs 409.41 crore a year ago.

However, the performance during the quarter is not comparable with corresponding period last year as the impact of its acquisition of Bharti Retail and demerger of infrastructure part of the company have been included from October 2015.

The company reported a same-store sales growth of 9.4% for its value business and 4.9% for the home business. It added 24 new Big Bazaar outlets during the quarter.

Future Retail was listed at Rs 153 on the Bombay Stock Exchange (BSE) on Monday, following its merger with Bharti's retail business. The stock closed at Rs 157.75 on Tuesday against the previous close of Rs 160.65.