Futures position are taken by investing a margin amount. Profit/ Loss will be based on the exposure taken by you. For example: If you buy 250 shares of Axis Bank in Cash @ Rs.1500, a profit or loss of Rs.50 per share will be 3.33% gain/loss on (250*1500) Rs.3,75,000/-. Whereas, if you buy 1 lot of Axis Bank in Futures (1 lot of 250 units), then an up/down movement of Rs.50 will give you 16.67% gain/loss on investment of Rs.75,000/- (assuming 20% margin per lot of Axis Bank)