Pantaloon Retail, the retail subsidiary of Indian conglomerate Future Group, has booked an increase in sales and profits for the three months to the end of March.

The company said on Friday (13 May) that net profit for the third quarter totalled INR2.01bn (US$44m), up from INR1.41bn the previous year. However, the group emphasised that the comparable figure was artificially boosted by the reorganisation of businesses into other subsidiaries of Future Group.

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“In view of the realignment and transfer of ‘value retail business’ to its wholly-owned subsidiary… the performance of the current nine months ended would not be comparable with corresponding nine months of the previous year,” the company stated.

Net sales during the period under review totalled at INR10.31bn, up from INR9.35bn.

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