Pantaloon Retail posts net profit of Rs 32.50 cr for Jan-Mar

MUMBAI: Kishore Biyani-promoted Pantaloon Retail India on Friday reported a net profit of Rs 32.50 crore for the third quarter ended March 31, 2010.

It had a net profit Rs 34.37 crore during the same period a year ago.

The results of the third quarter and nine-month period are not comparable as the company has transferred its value retail business to its wholly-owned subsidiary Future Value Retail, Pantaloon Retail India said in a filing with the Bombay Stock Exchange.

The company earned a net income of Rs 602.10 crore in the quarter under review while it stood at Rs 1,642.09 crore in the same period previous year.

For the nine-month period ended March 31, 2010, it posted a net profit of Rs 126.99 crore whereas it was Rs 104.09 crore in the same period previous year.

The firm grossed a net income of Rs 4,291.96 crore in the nine-month period under review while it was Rs 4,678.98 crore during the same period last fiscal.

The company operates multiple retail formats in both the value and lifestyle segment. It operates over 12 million square feet of retail space, has over 1000 stores across 71 cities in the country.

The company's formats include Pantaloons, a chain of fashion outlets; Big Bazaar, an Indian hypermarket chain, and Food Bazaar, a supermarket chain.

Shares of the company closed at Rs 422.75, down 1.27 per cent from the previous close on the BSE.