Quarterly Results: Future Retail Ltd
Bhagyashree Vivarekar / 06 Dec 2016
Future Retail Ltd's net profit rose 4.2% QoQ to Rs 74 crore. It closed at Rs 123, up by 2.15 points or 1.78% from its previous closing of Rs 120.85 on the BSE.
Technical View:
Future Retail Ltd closed at Rs 123, up by 2.15 points or 1.78% from its previous closing of Rs 120.85 on the BSE. The scrip had opened at Rs 121.00 and has touched a high and low of Rs 130.00 and Rs 120.20, respectively.
Standalone Results Q2FY17:
Future Retail’s Q2FY17 standalone numbers came in today. The company's revenue for the quarter rose 5.3% QoQ to Rs 4,191 crore. Its operational level performance continued along the same lines with an EBITDA growth of 9.4% QoQ to Rs 128 crore with EBITDA margins expanding 11 bps to 3.1%. The strong performance at the operational level could be attributable to efficiencies of scale.
The company's net profit level performance, however, came in slightly weaker than the performance at the revenue and the EBITDA level. Its net profit rose 4.2% QoQ to Rs 74 crore. This was primarily due to a 17.7% QoQ increase in finance costs.
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