Future Consumer's Q3 saw net loss narrowing at Rs 14 crore

Future Consumer stated that its consolidated net loss has narrowed to Rs 14 crore in third quarter ended December 31, 2016, result, against net loss of Rs 20.31 crore in the corresponding period of the previous year. 

In Q2, the company reported consolidated net loss of Rs 16.17 crore. 

Consolidated total income from operations was at Rs 551.57 crore, which was up by 9.26% year-on-year (YoY) but down by 2.15% quarter-on-quarter (QoQ). 

On standalone front, Future Consumer witnessed net profit of Rs 1.29 crore, against net loss of Rs 9.40 crore a year ago same period. While total income was at Rs 434.12 crore, growing by 6.24% yoy. 

Future Consumer in a meeting held on February 11, 2017, appointed Devendra Chawla as Chief Executive Officer with immediate effect. 

Chawla has been associated with Future Group since 2009, and has been responsible for developong and managing the private brands under Food and FMCG category. He was also CEO of Food Bazar and Group President for Food, FMCG and brands in 2014.