Shoppers Stop Q2 net drops 19% to Rs 13 cr

Shoppers Stop today posted a 19.24 per cent decline in its net profit to Rs 12.84 crore for the second quarter ended September 30, 2015.
The company had posted a net profit of Rs 15.90 crore during the same period of the previous fiscal.
Income from operations stood at Rs 877.77 crore compared with Rs 842.40 crore during the same period of the previous fiscal, Shoppers Stop Ltd said in a regulatory filing.
"Q2 like-to-like sales growth is looking muted due to Change of Puja/Dussera Dates and reduction in SALE Period," said Shoppers Stop Customer Care Associate & Managing Director Govind Shrikhande adding that this year Dussera was shifted to October-December quarter.

He further added: "Moreover, this year sales period was also reduced for a week".
Over the outlook, he said:" We are in an exciting phase right now with our omni-channel operations underway and our partnerships with Snapdeal & FreeCharge coming into effect this festive season.
Besides, Shopper Stop would add four new stores in the second half of the year.
Shares of Shoppers Stop today settled at Rs were trading a on BSE, down 1.24 per cent from previous close.