Future Consumer Enterprise Q1 net loss narrows to Rs 20.73 cr

Future Consumer Enterprise Ltd's consolidated net loss narrowed to Rs 20.73 crore in the first quarter ended June 30, the company said today.
It had posted a consolidated net loss of Rs 29.05 crore in the same quarter last fiscal.
Consolidated net sales during the period under review stood at Rs 462.78 crore, up from Rs 341.41 crore in the year-ago quarter, Future Consumer Enterprise said in a BSE filing.
The company said since it has realigned its business by shifting operations of convenience stores to be undertaken as franchise models in the last quarter and made some acquisitions after June 30,2015, the results are not comparable.

At a meeting held today, the board of directors also approved changing the name of the company to 'Future Consumer Ltd' or such other name as may be approved by competent authority.