Pantaloon - Retail Revolution

Pantaloon Retail Posts 157% Increase In Net Profit

Pantaloon Retail (India) Limited, the flagship company of the Future Group, declared its unaudited financial results for the quarter ended December 31, 2006 wherein the gross turnover (Rs.795.48 crore) for the quarter increased by 57 per cent; net sales/ income from operations (Rs. 752.68 crore) increased by 59.47 per cent; profit before tax (Rs. 65.82 crore) increased by 147 per cent; net profit (Rs. 43.97 crore) increased by 137 per cent; and the diluted earning per share (EPS) increased to Rs. 3.24 (from Rs. 1.46).

The Board of Directors of the company, at the meeting held on January 25, 2007, inter alia, took on record the segmented unaudited financial results for the last quarter ended December 31, 2006, along with the limited review report of NGS & Co, Statutory Auditors of the Company.

The ‘Value Retailing’ segment revenue for the quarter ended December 31, 2006, increased to Rs. 552.75 crore (Rs. 338.84 crore as of the quarter ended December 31, 2005). The ‘Lifestyle Retailing’ segment revenue increased to Rs. 181.72 crore (Rs. 132.73 crore as of December 31, 2005). The profit before tax and interest from the ‘Value Retailing’ segment increased to Rs. 42.65 crore (Rs. 24.66 crore as of December 31, 2005). The profit before tax and interest from the ‘Lifestyle Retailing’ segment increased to Rs. 27.70 crore (Rs. 19.15 crore as of December 31, 2005).

In the quarter ended Dec’06, Big Bazaar Stores were opened in following cities- Nagpur, Mumbai , Haldia, Allahabad, Coimbatore, Ahmedabad, Surat, Chennai and Hyderabad. Stand alone Food Bazaar stores were opened at Mumbai, Hyderabad, and Secunderabad. Brand Factory stores were opened at Bangalore and Hyderabad. Pantaloon stores were opened at Mumbai Central and Delhi. Stand-alone “aLL” store was opened at Mumbai. Stand-alone Depot stores were opened at Mumbai and Delhi. Big Bazaar Wholesale Club was opened at Ahmedabad. Top 10 store was opened at Mumbai. Stand-alone Health Village was opened at Mumbai.

Earlier, Future Group has unveiled its latest division Future Fashion House, which will roll out several brands in categories like textile, apparel and accessories, for which they have brought together a team of 100 designers.

Designers Rocky S and Priyadarshini Rao have also been roped in an advisory capacity to review the products. The focus is to make available ethnic fashion 'affordable' to the masses. It will be distributed via the Pantaloons Retail outlets across the country. With over 60 brands, Future Fashion House aims for leadership in fashion in India with a projected revenue of over Rs 20 billion in the current year, and a projected revenue of over Rs 40 billion next year, informs an official release.

The initiative promises to offer original Indian fashion incorporating latest global influences reversing the trend of India following western fashions, and opening up a whole new world for the Indian consumer. It will launch a series of initiatives, which will include fashion shows and exhibitions to bring alive new trends. As well as use India's fashion influencers, Bollywood and television, to take the new looks across India and rejuvenate Indian tradition and reinterprete modernity.

The group whose flagship enterprise is Pantaloon Retail, already has six verticals including Future Retail (encompassing all lines of retail business), Future Capital (financial products and services), Future Brands (all brands owned or managed by group companies), Future Space (management of retail real estate), Future Logistics (management of supply chain and distribution) and Future Media (development and management of retail media spaces).