Future Lifestyle Q2 net down 70% at Rs 2 crore

Future Lifestyle Fashions today reported a 69.77% decline in its net profit to Rs 2.11 crore for the second quarter ended September 30.

The company had posted a net profit of Rs 6.98 crore in the same period of the previous fiscal, Future Lifestyle Fashions said in a regulatory filing.

Net sales during the period under review stood at Rs 853.45 crore as against Rs 874.12 crore in the year-ago period, down 2.36%.

The company's employee expenses during the quarter were higher at Rs 47.51 crore compared with Rs 44.10 crore. Rent was also higher at Rs 92.44 crore as against Rs 83.67 crore in the year-ago period, the company said.