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Wednesday, 08 September 2010 |
Pantaloon Retail (India), the country’s largest publicly-traded retailer, has recorded a 170 per
cent jump in net profit to Rs 98.9 crores in the quarter ended June 2010, compared with the year-ago period. This has been possible due to increased sales followed by a revival in the economy. The company has posted a consolidated annual profit of Rs 76.4 crores for financial year 2009-10 against a loss of Rs 7.5 crores in the previous year.
Pantaloon Retail has reported a core retail turnover of Rs 2,493.7 crores for the June quarter, up 49.98 per cent from the corresponding period last year. Its consolidated annual turnover increased 27.6 per cent to Rs 9,786.9 crores for the year 2009-10. The company’s core retail businesses posted a total turnover of Rs 8,926.1 crores compared with Rs 6,341.7 crores in the year-ago period. The stores sales growth in value retailing stood at 9.5 per cent, lifestyle retailing at 13.7 per cent and home retailing registered a 12.02 per cent growth. It may be recalled that during the year, to consolidate the company’s retail businesses, it had merged the home solutions business, Home Solutions Retail India, with itself. Also, a wholly-owned subsidiary, Future Value Retail, was created to operate its fast-growing value retail business.
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