INSUBCONTINENT EXCLUSIVE:
Kishore Biyani-led Future Enterprises' standalone net loss widened to Rs 46.73 crore for the quarter ended on March 31, 2018.
The company
had posted a net loss of Rs 39.34 crore in the corresponding quarter of the previous fiscal.
Future Enterprises' (FEL) total income stood at
Rs 953.05 crore in the quarter under review
It was Rs 984.97 crore in the year-ago period, the company said in a BSE filing.
The company said revenue from operations (which is part of
total income) for the current periods are not comparable with the corresponding earlier periods.
"Revenue from operations for the quarterwas
reported inclusive of excise duty
Goods and service tax (GST) was implemented with effect from July 1, 2017, which replaced excise duty and other input taxes," it added.
In a
separate filing, the company said its board approved raising up to Rs 1,500 crore via secured redeemable non-convertible debentures (NCDs)
in one or more tranches within a year, subject to approval by the members.
The company said it will use proceeds to "replace few of its
high-cost current or near-term maturity debts as well as to meet further funds requirements".
