Future Retail shares zoom 17.5 pc after Q3 results

Shares of Future Retail zoomed 17.5 per cent today after the company posted standalone net profit of Rs 101 crore for the third quarter ended December 31, 2016.
The stock skyrocketed 17.51 per cent to end at Rs 222.10 on BSE. During the day, it jumped 20 per cent to Rs 226.80 -- its 52-week high.
On NSE, shares of the company soared 16.95 per cent close at Rs 221.05.
In terms of volume, 5.23 lakh shares of the company were traded on BSE and over 39 lakh shares changed hands at NSE during the day.
The company had posted a net profit of Rs 53.83 crore in the October-December period of the previous fiscal.

Its total income from operations stood at Rs 4,420.12 crore in the quarter under review as against Rs 2,496.07 crore in the year-ago period, the company said in a BSE filing.
However, the company said that "the numbers are not comparable due to scheme of arrangement between Future Retail and Bharti Retail".
In May 2015, Future group had agreed to merge its retail business with rival Bharti Retail in an all-stock deal.