Shoppers Stop's Q3 profit increases marginally to Rs 17 cr

Leading retailer Shoppers Stop today reported a marginal improvement in net profit at Rs 17.34 crore for the quarter ended December, 2013.

The company had posted a profit of Rs 17.09 crore in the same period last year.

Shoppers Stop reported a gross retail turnover of Rs 787.5 crore for the period under review against Rs 677.7 crore in the corresponding period last year, up by 16 per cent, a company statement said here.

With 65 stores across 32 cities in India, Shoppers Stop continued is expansion plans.

In the December quarter, it added four new Shoppers Stop stores in Raipur, Hyderabad, Chennai and Jaipur international airport, among other stores.

On the financial performance, Govind Shrikhande, Managing Director said: "We have witnessed a healthy sales and EBIDTA growth of 16 per cent during the festive season quarter. Our focus remains on expansion in the department store.