Future Consumer Narrows Q1 Loss to Rs 15.8 Crore

New Delhi, Aug 14 (PTI) Future Consumer Ltd (FCL) on Wednesday reported a narrowing of its consolidated loss to Rs 15.79 crore in the June 2024 quarter.

It had reported a net loss of Rs 24.40 crore in the April-June period a year ago, according to a regulatory filing.

The revenue from operations of the FMCG arm of debt-ridden Future Group was 19.86 per cent higher at Rs 106.39 crore in the April-June quarter. It stood at Rs 88.76 crore in the year-ago period.

Total expenses of FCL increased 9.4 per cent in the reported quarter to Rs 125.81 crore.

"The group is currently facing a significant liquidity crunch which has impacted the operations of the group during the quarter ended June 30, 2024," it said.

It has incurred loss before tax during the quarter ended June 30, 2024, amounting to Rs 16.04 crore, including exceptional items, primarily owing to the exceptional items, lower volumes, finance costs and depreciation.

It has "accumulated losses as of June 30, 2024, of Rs 1,921.94 crore, Group's current liabilities exceeded its current assets by Rs 426.71 crore as at the quarter and year-end," it said.