Shoppers Stop surges 18%, hits 52-week high on strong Q3 earnings

Encouraged by the strong rebound, the company expects an accelerated growth trajectory now, driven by a robust recovery from the lockdown blues.

Shares of Shoppers Stop hit a 52-week high of Rs 420, on surging 16 per cent on the BSE in Friday’s intra-day trade after the company reported a strong operational performance with earnings before interest, taxes, depreciation, and amortization (ebitda) margins improving by 580 bps year-on-year (YoY) to 19.2 per cent in December quarter (Q3FY22).

The company said EBITDA performance driven by robust demand recovery and tight control on costs, while E-commerce sales continue to grow rapidly, up by 39 per cent. The company is now net debt free again.

The stock surpassed its previous high of Rs