Future Lifestyle Q1 net profit drops 7 pc to Rs 24.54 cr

New Delhi: Future Lifestyle Fashions (FLFL), part of the Kishore Biyani-led Future Group, Saturday posted a 6.83 per cent fall in consolidated net profit at Rs 24.54 crore for the first quarter of 2019-20. The company’s net profit stood at Rs 26.34 crore in the June quarter of last fiscal, it said in a regulatory filing. Profit took a beating due to higher expenses, which rose to Rs 1,507.02 crore during the April-June period of the current fiscal from Rs 1,281.91 crore in the year-ago quarter. Total income increased to Rs 1,551.11 crore from Rs…

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Future Group to diversify into cloud kitchen business

In a cloud kitchen concept, operators prepare, package and deliver food without providing any dine-in facility to end-consumers. SHAMBHU KALAN: Future Group will soon venture into the delivery of cooked foods from its kitchens as part of consolidation of food business, according to its Chief Executive Officer Kishore Biyani The group is looking to leverage its digital wallet FuturePay to deliver affordable meals at the doorsteps of consumers under the cloud kitchen concept. “Now, we are talking about cloud kitchen and ready-to-eat food at customers’ home at Rs 40. That is another project…

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Father’s day: 5 investment options for fathers to secure their children’s future

Archit Gupta The batch of 2018 of the IIM-Ahmedabad, India’s bluest of the blue business school, will shell out close to Rs. 20 lakh as tuition fees. This shows a steady rise in cost of education. Gold, which is considered as one of the safest and most liquid investments and inevitable in Indian weddings, too underwent a drastic price hike. In the year 2000, the price per gram was around Rs. 440 per gram. Currently, it stands at around Rs. 3000 per gram. However, you can beat inflation – by…

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The future of travel? Expect nose-to-jowl and armpit-to-armpit journeys

Richard Quest on the historic Kangaroo route As someone who has closely tracked the evolution of business travel and the technology that fuels it, veteran CNN journalist Richard Quest has more than a vague sense of what the future of travel looks like. For the short term, he says, it’s not incredibly comfortable, or glamourous. Here’s an edited excerpt of our chat with him that ranges from his idea of luxury to the golden rule of travel.  How has travel informed your world view? Travel has informed my world view…

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Coursera focuses on corporate training programmes for future growth

So far, Coursera has partnered with Indian School of Business and is aspires to get IITs and IIMs on its platform. Mumbai: Global online education platform Coursera is focused on strengthening its enterprise business in India by partnering with more companies and educational institutions for its future growth, said a top company official. Last year, the US-based company launched Coursera for Business, under which it curates online courses for companies as part of its corporate training programmes. Globally, the programme is used by 100 companies. In India, some of its corporate…

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Future Lifestyle Fashions raises Rs 350 crore through NCDs

Future Lifestyle Fashions Ltd (FLFL), part of the Kishore Biyani-led Future Group, has raised Rs 350 crore through issuance of non-convertible debentures series on a private placement basis. “The Committee of Directors… has issued and allotted 3,500 senior, secured listed, rated, redeemable non- convertible debentures series – IV (NCDs) of Rs 10 lakh each at par for cash aggregating Rs 350 crore to the investors, on private placement basis,” FLFL said in a regulatory filing. Last week, the company had reported a 3.23 per cent increase in consolidated net profit at…

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