Shoppers Stop net down nearly 96% in Apr-Jun qtr
The company had posted a net profit of Rs 11.7 crore in the corresponding period last year
Retail chain Shoppers Stop today reported a whopping 95.73% drop in net profit for the quarter ended June 30 at Rs 50 lakh.
The company had posted a net profit of Rs 11.7 crore in the corresponding period last year.
The gross retail revenue during the quarter, however, increased by 15.25% to Rs 516.9 crore from Rs 448.5 crore in the year-ago period, Shoppers Stop said in a BSE filing.
Commenting on the numbers, Shoppers Stop MD Govind Shrikhande said: "The overall economic outlook has been soft. However, Shoppers Stop Ltd continues with its growth trajectory by adding new stores across formats."
Shares of the company today closed 5.61% up at Rs 370 apiece on the BSE.