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Indigenous retail marketplace leader, Future Enterprises Limited (FEL), published their first quarterly financial report for the current fiscal period of 2018-19 with a net loss of Rs. 30.35 crores. The loss reported for the June-end quarter of the previous fiscal year stood at Rs. 45.46 crores.
The loss reported is even lower than the loss incurred during the March-end quarter of 2018 which stood at Rs. 46.73 crores. Although the last quarter the Enterprise reported profit was during the December-end quarter of the fiscal year 2017-18 at Rs. 81.92 crores.
In the BSE filing, the company stated that the total income during the quarter under review was Rs. 1023.81 crores as compared to Rs. 1045 crores during the previous year same quarter period. The FEL also stated that the revenue from the operation, part of total income, for the current period is not comparable with the corresponding earlier period.
Future Enterprises Limited said, “Revenue from operation for the quarter ended June 30, 2017, was reported inclusive of excise duty. Goods and Service Tax (GST) was implemented with effect from July 2017, which replaced excise duty and other input taxes. Revenue from operations for the quarter ended on June 30, 2018, is reported net of GST.”
