Future Retail Q1 net jumps two-fold to Rs 148 cr

Total income grew 18.12% to Rs 4,707.44 cr

Kishore Biyani-led Future Retail on Tuesday reported an over two-fold jump in its standalone net profit at Rs 147.85 crore for the quarter ended June 30 on account of higher income.

The company had posted a net profit of Rs 70.55 crore during the April-June quarter of the previous fiscal, Future Retail said in a BSE filing.

Total income during the quarter under review grew 18.12 per cent to Rs 4,707.44 crore as against Rs 3,985.22 crore in the year ago period.

The company said its board has approved demerger of its Home Retail business undertaking to Praxis Home Retail Ltd.

Future Retail stock was trading 3.96 per cent up at Rs 447.75 on BSE.