Future Retail net jumps five-fold in Q4

Kishore Biyani-led Future Retail on Monday posted a five times' jump in its stand-alone net profit at Rs 10 crore for the quarter ended March as compared to Rs 2 crore for the corresponding quarter of the previous financial year.

The net sales went up by 19 per cent at Rs 2,740 crore in fourth quarter of 2014-15 as compared to Rs 2,295 crore in the corresponding quarter of the previous financial year.

The same-store sales growth for value business, which mainly operates Big Bazaar, was 7.6 per cent, while that of chains Hone Town and eZone was 16 per cent.

Same store sales growth means growth from stores in business for a year or more.

The company added 0.54 million square feet (sq ft) of space during the quarter to increase the total space to 11.36 million sq ft.