Future Retail Q1 net profit at Rs 70.55 crore

Future Retail, erstwhile Bharti Retail, today reported a standalone net profit of Rs 70.55 crore for the quarter ended on June 30.
The company had reported a net loss of Rs 86.95 crore for the April-June quarter a year ago, Future Retail said in a regulatory filing.
Its net sales was at Rs 3,891.51 crore during the quarter under review. It was Rs 409.41 crore in the corresponding quarter.
"The numbers are not comparable pursuant to the scheme of arrangement between Future Retail and Bharti Retail," the company said.
In May last year, Future group had agreed to merge its retail business with rival Bharti Retail in an all-stock deal.

The name of the company has been changed from Bharti Retail Ltd to Future Retail from May 25, 2016.
Share of Future Retail today settled 1.81 per cent down at Rs 157.75 apiece on BSE.