As leading names in the retail sector grapple to keep pace with competition, Future Lifestyle Fashions, in what could be called as a massive leap, reported over three fold increase in its net profit for the quarter four. The company reported its net profit reaching Rs.18.93 crore as the quarter ended on March 31, 2017. For the same period a year ago, Future Lifestyle posted a net profit of Rs.5.22 crore.
Also, according to information released by the company for BSE filing, its total income from operations as the quarter ended in March 2017 stood at Rs.987.73 as against Rs.850.17 crore the previous year. With this, the company registered a 13.9% rise in its total income.
The company also revealed that during the aforementioned quarter, business from Lee Cooper was carved into a distinct step down subsidiary. This was done with a view of improving focus and execution of their retail objectives and gain increased traction from investors.
Recommendations for Future Growth as Laid Down by Board of Directors
Considering prevailing trends, the company’s board of directors has recommended offering dividend at 80 paise per equity share of Rs.2.
Future Lifestyle Fashions is a mid-cap company with an equity capital of Rs.38.03 crore. It exhibits a face value share of Rs.2. The company’s EBITDA or earnings before interest, tax, depreciation, and amortization witnessed a rise of 10.23% to Rs.97 crore by the end of Q4 in March 2017. The company is engaged in the business of fashion and it offers wearing apparel, jewelry, textiles, and a plethora of fashion accessories, besides furniture.