India's largest listed retailer Pantaloon Retail India Ltd registered a consolidated net profit increase of 51.07 per cent for the final quarter of last year, reaching Rs506.7m compared to Rs335.4m for the corresponding quarter of 2008.
Revenue for the quarter increased by 25.37 per cent to Rs19.128bn compared to Rs15.256bn in the same quarter of 2008, Live Mint.com reported.
The firm received shareholder approval for transferring its Value Retail Business to its wholly owned subsidiary Future Value Retail from 1 January. Future Value Retail is the arm of Pantaloon that operates its Big Bazaar hypermarket and Food Bazaar supermarket outlets.
'The performance of the company has been in line with our expectations. There is also a 33 basis points improvement in operating margins quarter-on-quarter which shows that the company has maintained its costs and its cost cutting measures are showing results,' said analyst Viraj Nadkarni.
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