FILE PHOTO: Kishore Biyani at a warehouse operated by Future Supply Chain Solutions in Nagpur | Photo: Bloomberg
Future group company, Future Supply Chain Solutions (FSC), has posted 57 per cent rise in its net profit to Rs 19.7 crore for the quarter ended December 31, 2018 from Rs 12.6 crore in the corresponding period last year.
Total revenue of the company rose 43.2 per cent to Rs 332.6 crore for the October-December 2018 quarter, from Rs 232.3 crore for the same period last year.
Total warehousing area of the company shot up by a staggering 68 per cent to 7.31 million square feet during the third quarter of the current financial year as against 4.36 million square feet in the comparable period last year.
“This has been a great quarter for FSC, with both revenue and profit growth surpassing expectations. The strong momentum continued in new client acquisitions, thereby further consolidating our position as one of the fastest growing logistics solution provider in India," said Mayur Toshniwal, Managing Director, FSC.
"In the coming months, we will be implementing newer technologies and increase the use of automation in our operations, such as robotics and voice picking. This will further drive our business intelligence and create value for our stakeholders and customers,” he added.