Future Enterprises reports Q2 net loss of Rs 283 cr

Futures Enterprises Ltd. (FEL) on Wednesday reported a consolidated net loss of Rs 283.63 crore for the July-September quarter.

During the same quarter of the last financial year, the company had reported a consolidated net profit of Rs 17 crore.

The company’s revenue from operations declined 86 per cent to Rs 237.88 crore, from Rs 1,699.84 crore reported in the second quarter of FY19-20.

In a regulatory filing, the company said that Covid-19 pandemic and the consequent lockdown throughout the country, has had a significant adverse impact on the business operation and the financial results of the company for the quarter ended September.

“The company will continue to closely monitor any material changes to future economic conditions and to take various precautionary measure to ensure health and safety of its customer, employees, stakeholder from Covid-19 pandemic,” it said.