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Shoppers Stop reports Q1 profit of Rs 97.7 mn, income falls to Rs 8.3 bn

Shares of Shoppers Stop were trading 1.66 per cent higher at Rs 554.50 apiece on BSE

Press Trust of India  |  New Delhi 

Shoppers Stop

Retail chain on Friday reported a net of Rs 97.7 million for the ended June 30, 2018, as against a net loss of Rs 37.1 million in the corresponding a year ago.

Total income during the under review stood at Rs 8.33 billion. It was Rs 9.46 billion in the year-ago period, said in a filing.

The company said revenue for quarter ended June 30, 2017, is strictly not comparable with quarter ended June 30, 2018, due to change in accounting methods.

"Our revenue would have been almost flat, but for the extraneous factors like reclassification under Accounting Standard AS 115, significant increase in taxes as we have shifted from value aaded tax (VAT) to and pre-sale in June 2017, our revenue has declined,"Rajiv Suri, Customer Care Associate, MD and CEO, said.

At present, the company operates 83 Shoppers Stop stores in 38 cities and 13 stores in 9 cities.

Shares of Shoppers Stop were trading 1.66 per cent higher at Rs 554.50 apiece on

First Published: Fri, July 27 2018. 15:23 IST
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