Jasmine Andrade
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Foreseeable future Life style Fashions Ltd on Tuesday reported a widening of its consolidated net loss to Rs 1,879.91 crore in the fourth quarter finished March 2022 thanks to closure of retailers and better charges.


The company experienced posted a consolidated web loss of Rs 149 crore in the January-March quarter a year ago, Long run Lifestyle Fashions Ltd (FLFL) claimed in a regulatory filing.

Its income from functions throughout the quarter below evaluate was down 27.04 for each cent to Rs 607.42 crore. It was at Rs 831.62 crore in the March quarter of FY21.


All through the quarter, complete expenditures were being larger at Rs 1,438.35 crore from Rs 984.05 crore in the year-back time period, it stated.


The company claimed it incurred losses principally owing to “provision for diminution of investments, doubtful provision for receivables, the lessen revenue volumes, finance prices and depreciation”.


The excellent things for the quarter and year ended March 2022 include provision for diminution of investments aggregating to Rs 480.64 crore and provision for impairment for inter-company deposits and interest receivables aggregating to Rs 282.51 crore.


Its present-day liabilities “exceeded its current property (together with property held for sale)” by Rs 1,180.66 crores as of the 12 months-stop date.


As on March 31, 2022, the business reported 34 Central shops and 78 Manufacturer Factory stores were being non-operational.


“These retailers have been contributing about 64 per cent of overall profits from operations of the organization for FY 2021,” it mentioned.


The consequence of FLFL together with other shown entities of the debt-ridden Potential Retail has been delayed thanks to the vacant slot of their respective…
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