The Hindu Business Line : Pantaloon Retail net dips to Rs 31 cr

Pantaloon Retail has posted a 62.9 per cent increase in income from operations at Rs 1,226.75 crore (752.68 crore) for the quarter ended December 31. Net profit for the retailer has dipped from Rs 43.97 crore to Rs 31.65 crore. This was due to the non-inclusion of the profit made on the sale of investments last year amounting to Rs 37.32 crore. During the quarter the company has opened 23 stores. The retail space of the company has increased from around 6.00 million square feet to around 6.70 million square feet during the quarter. The board has approved setting up wholly owned subsidiary companies for Big Bazaar and Food Bazaar, Speciality Retail Business Activities and Property & Mall Management Division and transfer the respective businesses of the company on a going concern basis to the respective subsidiaries, subject to receipt of all requisite statutory and other necessary approvals.

– Our Bureau

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