Shoppers Stop Q3 net up 71.31% to Rs 23.59 cr

Retail chain group Shoppers Stop Ltd today reported 71.31 per cent jump in net profit at Rs 23.59 crore for the third quarter ended December 31, driven by festive season sales.
The company, which operates retail chains such as Shoppers Stop, HomeStop, Crossword, Mothercare and Hypercity had posted a net profit of Rs 13.77 crore in October-December quarter a year-ago.
Its total income from operations during the quarter under review was also up 19.06 per cent to Rs 911.75 crore as against Rs 765.79 crore in the corresponding quarter of the last fiscal, Shoppers Stop said in a BSE filing.

Overall expenses in October-December quarter were at Rs 861.62 crore, an increase of 17.71 per cent from Rs 731.98 crore in the year-ago period.
"Third quarter is the peak festive shopping quarter and with Durga Puja moving to October this year, it has been a block buster quarter. The departmental store format witnessed a double digit growth of 18.2 per cent and a strong like-to-like growth of 17.4 per cent in second quarter of this fiscal," said Shoppers Stop Customer Care Associate & MD Govind Shrikhande.
Besides, the company has launched a refreshed website as part of its Omni-Channel strategy.

"In line with our Omni-Channel strategy, we launched our refreshed website shoppersstop.Com with marked improvements in usability and navigability. Our mobile app will be launched in February, completing our first phase of investments in Omni Channel," added Shrikhande.
Shoppers Stop, promoted by K Raheja Group is operating 76 stores in 36 cities.
Shares of Shoppers Stop were trading at Rs 392.50 per scrip on BSE, up 3.26 per cent from previous closing.