New Delhi, Jul 10 (PTI) Future Consumer Ltd on Friday reported a consolidated net loss of Rs 175.46 crore for the quarter ended March 2020.

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The company had reported a net profit of Rs 7.53 crore in the January-March period of the preceding fiscal, Future Consumer said in a BSE filing.

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Revenue from operations slipped 8.70 per cent to Rs 947.07 crore, as against Rs 1,037.37 crore earlier.

The company is engaged in the business of sourcing, manufacturing and marketing FMCG and processed food products.

"Covid-19 started impacting the performance towards the end of March leading to disruptions in sourcing, supply chain and distribution impacted by store closures due to lockdown," the company said in a post-earnings investor presentation.

According to the Future Group firm, its gross margin was "impacted by one time liquidation in Processed Food and HPC (home and personal care) and incremental share of essentials."

Total expenses were at Rs 1,051.87 crore, up 0.77 per cent from Rs 1,043.79 crore in January-March FY2019.

For the full fiscal 2019-20, Future Consumer posted a net loss of Rs 216.50 crore. It had reported a net loss of Rs 7.18 crore in the previous financial year.

However, revenue from operations rose 4.11 per cent to Rs 4,040.33 crore from Rs 3,880.64 crore in 2018-19.

Shares of Future Consumer Ltd on Friday settled at Rs 11.40 on the BSE, down 5 per cent from the previous close.

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