Pantaloon Retail slips on dismal Q3 nos

Pantaloon Retail India has slipped almost 7% to Rs 137 in morning trades, extending its previous day’s 2.5% fall on reporting a 76% year-on-year (y-o-y) decline in net profit at Rs 12.03 crore for the third quarter ended March owing to high interest costs and low consumer sentiment. Net sales however, grew 8% at Rs 3,026 crore on y-o-y basis.

“Interest increased 73% at Rs 173 crore during the quarter as compared to Rs 110 crore during the same period last year,” the country’s largest listed retailer said in a statement.

Total 160,000 shares have changed hands on the counter in morning trades on the NSE and BSE.