Future Consumer Ltd Reports Narrowed Q1 Loss but Faces Liquidity Crunch

Future Consumer Ltd (FCL) reported a reduced consolidated loss of Rs 15.79 crore for the June 2024 quarter. The FMGC arm of Future Group had earlier reported a Rs 24.40 crore loss in the same period last year. Despite higher revenue, FCL is grappling with significant liquidity issues and mounting losses.

Future Consumer Ltd (FCL) on Wednesday reported a narrowing of its consolidated loss to Rs 15.79 crore for the June 2024 quarter, down from Rs 24.40 crore a year ago.

The FMCG arm of the debt-ridden Future Group saw revenues rise by 19.86% to Rs 106.39 crore in the same period, compared to Rs 88.76 crore last year.

However, total expenses rose by 9.4% to Rs 125.81 crore during this quarter, further straining the group's financial health. The company disclosed it faces a significant liquidity crunch impacting its operations. Accumulated losses as of June 30, 2024, stand at Rs 1,921.94 crore, with current liabilities exceeding current assets by Rs 426.71 crore.

(With inputs from agencies.)