Pantaloon Retail today posted a loss of Rs 20.41 crore on standalone basis for the quarter ended December 31. The Future Group company had clocked a net profit of Rs 5.64 crore in the same period last fiscal.
Total income stood at Rs 1,289.33 crore whereas the same was at Rs 1,111.48 crore for the quarter ended December 31, 2011, the company said in a release. The current period figures were not comparable with the previous year on account of extension of the accounting period by six months from June 30, 2012, to December 31, 2012, the release said.
During the 18 months ended December 31, the company has posted a net profit of Rs 273.26 crore. Total income stood at Rs 7,015.43 crore for the 18 months ended December 31, 2012. As per consolidated results, the retail giant posted a net profit of Rs 275.67 crore for the 18 months ended December 31. Total income was Rs 20,316.37 crore in the same period.
Improved consumer sentiments, lower interest outgo and higher operational efficiencies marked the final quarter of the financial year for the company. The core retail business turnover increased from Rs 2,893 crore to Rs 3,171 crore for quarter ended December 31, year-on-year basis.
The interest outgo came down from Rs 176 crore for the quarter ended September 30, to Rs 157 crore in the quarter ended December 31, 2012. The company witnessed brisk sales in festive season during the quarter vis-à-vis the previous year. After quite a few consecutive quarters of weak consumer sentiments, sales during the festive season improved significantly, it said.
Categories like fashion, footwear, home appliances and home fashion, which were hit hard during the slowdown, posted encouraging sales. The upcoming quarters will provide a clearer indication of whether the demand upswing remains consistent, it said.
Pantaloon ended the December quarter with 16.38 million sq ft of retail space. It added 0.41 million sq ft of retail space during the December quarter. In the lifestyle segment, the company opened two Pantaloon, 4 Brand Factory and 3 eZone stores.
The company said the next court hearing of its petition regarding the demerger of Pantaloons Fashion Format is scheduled on March 1.
