Future Lifestyle and Fashions Ltd (FLFL) today reported net profit of Rs 108.90 crore for the second quarter ended September 30, 2013-14.
The company did not have operations in the corresponding quarter of the previous fiscal, 2012-13.
During the July-September quarter, FLFL’s net sales stood at Rs 690.10 crore, the company said in a BSE filing.
FLFL divested its 25.8 per cent stake in BIBA Apparels in favour of a PE fund for Rs 190 crore during the quarter.
The company, in an investors’ update, said it plans to exit its 22.9 per cent stake in AND Designs during the December 2013 quarter.
Future Retail demerged its fashion business in November 2012 and formed a new company called Future Lifestyle Fashions (FLFL). FLFL has a portfolio of over two dozen fashion and lifestyle brands.
FLFL scrip closed at Rs 70.65, down 4.25 per cent, on the BSE.