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Koutons Retail India Ltd has posted a net loss of Rs 35.77 crore for the first quarter ended June 31, 2011, against a profit of Rs 5.50 crore in the corresponding period a year ago. The net sales stood at Rs 61.58 crore for the current quarter, against Rs 161.51 crore in the corresponding period a year ago, the company informed the Bombay Stock Exchange.
The Board of Directors of the company at its meeting held yesterday has proposed to increase the authorised share capital of the company to Rs 200 crore from the existing Rs 100 crore subject to shareholders' approval. The shares of the company were trading at Rs 23.45 down 2.29 per cent on the BSE.
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