Future Consumer and Fonterra Co-operative Group to wind down 50:50 joint venture - Fonterra Future Dairy; Stock slips 2%
The joint venture was established in 2018 and has 22 employees.
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The joint venture was established in 2018 and has 22 employees.
Shares of Future Group of companies on Thursday bounced back, rallying as much as 14 per cent, a day after the Delhi High Court stayed the Amazon-Future arbitration.
The Delhi High Court on Wednesday stayed the ongoing arbitration proceedings between the Future Group and Amazon. The interim order was passed by a division bench of Chief Justice DN Patel and Justice Jyoti Singh. The order comes after Future Retail Ltd. and Future Coupons Pvt. appealed the decision of the single-judge bench of Justice Amit Bansal, who dismissed petitions by Future Group entities.
IFPL has now become a wholly-owned subsidiary of FCL Tradevest and continues to be a step-down subsidiary of Future Consumer.
Future Consumer registers Rs 155 cr loss in Q4, revenue slumps by 59% Revenue from operations of FCL, which is the FMCG arm of the Future group, declined by 59.2 per cent to Rs 386.26 crore during January-March 2021 compared to Rs 947.07 crore in January-March 2020 Total expenses were at Rs 500.06 crore, down 52.5 per cent in the last quarter of 2020-21 against Rs 1,051.87 crore in the year-ago period PTI Updated Jun 27, 2021, 12:20 PM IST Future Consumer Ltd (FCL) on Saturday reported a lower net loss of Rs 155.12 crore for the quarter ended on March 31, 2021, compared to that of Rs 1...