Future Lifestyle Fashions Q4 loss at Rs 186.66 crore

Future Lifestyle Fashions today reported a net loss of of Rs 186.66 crore for the fourth quarter ended March 31, 2014.
The company had posted net profit of Rs 0.13 crore in the same quarter last year.
Net sales of Future Lifestyle Fashions during January- March period was Rs 700.80 crore.
However, for the financial year 2013-14, the company had a net profit of Rs 23.28 crore. It was Rs 0.34 crore in the 2012-13 fiscal.
Future Lifestyle Fashions net sales for the financial year 2013-14 was Rs 2,660.81 crore.
The financial numbers are not comparable, the company said in a statement.

"The business of the company has been vested pursuant to the scheme of the arrangement... By way of demerger from the Pantaloon Reatil (now known as Future Retail Ltd) and Future Venture India (now known as Future Consumer Enterprises Ltd).

"Accordingly, the financial results and accounts of the current quarter/year will not be comparable with that of corresponding quarter of the previous year," Future Lifestyle Fashions said.
The board of the company has recommended a dividend of 20 per cent per equity share of Rs 2.
Shares of the company today closed at Rs 93.90 apirce, up 3.53 per cent from the previous close.