Future Enterprises Q3 net loss at Rs 41.64 cr

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Homegrown retail major Future Enterprises today reported a standalone net loss of Rs 41.64 crore for the third quarter ended December 31, 2016.

The company, earlier known as Future Retail (FRL), had posted a net profit of Rs 220.88 crore in the corresponding quarter of the previous fiscal.

Future Enterprises' total income from operations stood at Rs 944.73 crore in the quarter under review compared to Rs 3,333.14 crore in the year-ago period, the company said in a BSE filing.

The figures, it said, are not comparable due to demerger of the retail business into Bharti Retail and demerger of the retail infrastructure of FRL into the company.

In a separate filing, the company said its Board has approved issue of up to Rs 1,500 crore non convertible debentures (NCDs) in one or more tranches within a period of one year.

Shares of Future Enterprises were trading 0.67 per cent up at Rs 22.65 apiece on BSE.