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Future Enterprises share falls 5% on Rs 395-crore Q4 loss

Future Enterprises share declined to intra day low of Rs 15.65 against previous close of Rs 16.45 on BSE

twitter-logoBusinessToday.In | September 8, 2020 | Updated 14:16 IST
Future Enterprises share falls 5% on Rs 395-crore Q4 loss
Future Enterprises share has lost 22.88% in the last 6 days.

Shares of Future Enterprises fell up to 5% today after the firm reported a consolidated net loss of Rs 394.77 crore in Q4 against a net profit of Rs 66.58 crore in the March quarter a year ago.  Future Enterprises share declined to intra day low of Rs 15.65 against previous close of Rs 16.45 on BSE.

The micro cap stock has lost 22.88%  in the last 6 days. The share trades higher than 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages.

The share has lost 33.6% in one year and declined 25.06% since the beginning of this year.

Market cap of the Future Group firm fell to Rs 793.36 crore. Total 47.78 lakh shares changed hands amounting to turnover of Rs 7.56 crore.

Revenue from operations fell 50.01 per cent to Rs 783.28 crore in Q4 compared with Rs 1,566.96 crore in the same period last year.

The earnings have been announced a few days after board of the holding firm cleared amalgamation of the Future Group entities with the company to help finalising Rs 24,713 crore deal to sell the retail and wholesale business to Reliance Retail, owned by Reliance Industries.

 Future Enterprises announced the merger of key group companies including Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks into the holding firm. Share of Future Retail was trading at lower circuit of 5% at  Rs 101.55 on BSE. Similarly, shares of Future Supply Chains and Future Market Networks were trading 5% and 0.43% lower, respectively.

Future Enterprises Limited is engaged in the business of multi-brand retail trading. The company's retail business consists of Hypermarket and Supermarket, and Home Solutions. The hypermarket and supermarket business is led by Big Bazaar, fbb, Food Bazaar and Foodhall, and the company operates over 300 Big Bazaar, fbb and food bazaar stores in approximately 244 cities across the country.

Meanwhile, Sensex traded 250 points higher at 38,668 and Nifty gained 72 points to 11,427 in afternoon session today.

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