Future Enterprises share rises over 3% despite Q2 loss

Future Enterprises share rose over 3% in trade today after the firm narrowed its consolidated loss to Rs  320.56 crore in Q2 of the current fiscal.  The firm reported Rs 334.88 crore loss in June quarter of current fiscal. However, it reported Rs 17 crore profit in Q2 of last fiscal.

Stock of Future Enterprises gained 3.33% to Rs 11.76 against previous close of Rs 11.38 on BSE.

Future Enterprises share has gained after 2 days of consecutive fall. The share trades higher than 5 day, 20 day and 50 day moving averages but lower than 100 day and 200 day moving averages.  

However, the share has lost 47% since the beginning of this year and fallen 47.38% in one year.

Market cap of the  firm rose to Rs 525 crore on BSE. The Future Group firm posted revenue of Rs 238 crore in Q2 against Rs 1,700 crore revenue in Q2 of last fiscal.

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However, revenue rose 32.6% in Q2 from Rs 179.39 crore in Q1 of current fiscal.

"Covid-19 pandemic and consequent lockdown imposed throughout the country has had a significant adverse impact on the business operations and the financial results of the company for the quarter ended September 30, 2020," said FEL.

In last fiscal, the firm reported a loss of Rs 288.50 crore against Rs 24.02 crore profit  for the fiscal ended March 2019.

Meanwhile, Sensex hit record high of 46,592 and Nifty too logged a lifetime high of 13,666 in today's session. Yesterday, Sensex ended 9 points higher at 46,263 and Nifty gained 9 points to 13,567.

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