Future Retail zooms 20% post Q3 results

The stock locked in upper circuit of 20% to Rs 227, also its record high on the BSE

Future Retails has been locked in upper circuit of 20% to Rs 227, also its record high on the BSE, after the company reported a strong 87% year on year growth in its standalone net profit at Rs 101 crore for the quarter ended December 2016 (Q3FY17). The company engaged in retail business had profit of Rs 54 crore in the same quarter last fiscal.

Total income from operations during the quarter under review increased by 77% at Rs 4,420 crore against Rs 2,496 crore in the corresponding quarter of previous fiscal.

The trading volumes on the counter jumped more than 10-fold with a combined 3.87 million shares changed hands on the BSE and NSE till 03:18 pm. There were pending buy orders for around 45,000 shares on the BSE.