Pantaloon Retail, the retail subsidiary of Indian conglomerate Future Group, has booked a drop in third-quarter profits.
For the three months to the end of March, net profits plummeted 76% to INR12.03bn (US$220.8m). The retailer blamed the decline on high interest costs, low consumer sentiment and high raw material costs.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
EBITDA, however, climbed 12% year-on-year to INR278m in the three-month period and operating profit margin improved 40 basis points at 9.2% versus 8.8% last year.
Net sales increased amounted to INR30.26bn, an 8% increase on the prior-year period.
Click here to view the full earnings release.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
