Spencer's Retail posts Rs 49.45 crore pre-tax loss in March quarter

Despite posting a 22.27 per cent rise in its revenue at Rs 640.05 crore during the March quarter, Spencer’s Retail posted a pre-tax loss of Rs 49.45 crore primarily owing to steep rise in finance costs, depreciation and amortization and purchase of stock-in-trade. 

It had earned a revenue of Rs 523.46 crore during the similar quarter of the 2018-19 financial year year with a pre-tax profit of Rs 1.22 crore. The company posted a net loss of Rs 49.26 crore during the period under review as against a net profit of Rs 1.83 crore during the Q4 period of the 2018-19 financial year.