IndiaRetailBiz

Pantaloon Retail (India) Ltd, the flagship retailing company of the Kishore Biyani owned Future group, for quarter ending 30th September, 2007, has reported an increase of 78.5% in gross turnover during the quarter ending 30th September, 2007, over corresponding quarter in the previous year. The net sales (income from operations) at Rs 1,087.17 crore for the quarter was, however, 79.6% higher than corresponding quarter of the previous year. During the financial year ended 30th June, 2007, Pantaloon had recorded gross income of 3550.36 crore and net income from operations of Rs. 3236.73 crore.

The company has also reported an increase of 87% in net profit during the period. The net profit was placed at Rs 29.67 crore. This growth was achieved after adjusting for the extraordinary income of Rs 33.80 crore on sale of investments, in the previous year. During the previous year ended 30th June, 2007, the company had earned net profit of Rs. 199.99 crore, including profit on sale of investment amounting to Rs. 8.89 crore and other income of 3.15 crore..

During the quarter under review, while Pantaloon opened 27 new stores, the retail space registered an increase of over 15% increasing from around 5.20 million sq. ft. to around 6.00 million sq. ft.