Kishore Biyani-owned Future Ventures India today reported a consolidated net loss of Rs 36 crore for the quarter ended June 30, 2011.
In the corresponding quarter last fiscal, the company had a net loss of Rs 3.4 crore, Future Ventures India said in a filing to the Bombay Stock Exchange (BSE).
During the reporting quarter, the firm's consolidated total income increased by 89% to Rs 156.32 crore from Rs 82.73 crore in the year-ago period.
The net loss was mainly on account of IPO expenses incurred by the company during the period.
"There is no amount to be credited to the Securities Premium Account and the IPO expenses incurred have to be charged to profit and loss account as and when they are incurred," the company said.
Accordingly, the expenses aggregating to Rs 32.31 crore incurred during the quarter have been absorbed in the profit and loss account, it added.
In April this year, the company had entered the capital market with a price band of Rs 10-11 per share for the public issue of Rs 750 crore.