Shoppers Stop has dipped 5% to Rs 399 on reporting a consolidated net loss of Rs 5.58 crore in the September 2012 quarter due to higher operating expenses and interest charges. The company had posted a net profit of Rs 10.23 crore in the corresponding quarter of last financial year.
EBIDTA or operating profit margins declined 200 bps to 2.5% from 4.5% during the recently concluded quarter. Net sales however, grew 14% at Rs 848 crore on year-on-year basis.
“The company's operating expenses went up 20% and interest charges went up 35% in the second quarter of current financial year,” Shoppers Stop said in a statement.
The stock opened at Rs 415 and hit low of Rs 398 on the NSE. A combined 20,384 shares have changed hands on the counter in morning deals on both the exchanges.
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