Pantaloons Q1 net loss at Rs 78.09 crore

Jul 31 2014, 20:58 IST
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SummaryAditya-Birla group firm Pantaloons Fashion & Retail Ltd today reported net loss of Rs 78.09 crore...

Aditya-Birla group firm Pantaloons Fashion & Retail Ltd today reported net loss of Rs 78.09 crore in the first quarter ended on June 30, mainly due to higher depreciation and amortisation expenses.

It had reported net loss of Rs 57.82 crore in the April-June quarter of 2013-14 fiscal, the company said in a filing to the BSE.

Depreciation and amortisation expense in the quarter under review were at Rs 45.55 crore as against Rs 16.75 crore in the corresponding quarter a year ago.

Pantaloons' Q1 net sales went up by 13.46 per cent to Rs 381.3 crore as against Rs 336.04 crore in the same quarter a year ago.

In 2012, Aditya Birla Nuvo Ltd had entered into a pact with the Future Group to infuse Rs 1,600 crore into 'Pantaloons' and acquire a majority stake in the store chain.

Pantaloons scrip closed at Rs 125.90 on the BSE, down 0.32 per cent from its previous close.

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