Shoppers Stop Q3 net profit at Rs 77.32 cr; sales up 33.82% at Rs 95,811 cr

Retail chain Shoppers Stop Ltd on Thursday reported a consolidated net profit of Rs 77.32 crore for the third quarter ended December 2021. The company had posted a net loss of Rs 25.11 crore in the October-December quarter a year ago, said Shoppers Stop in a regulatory filing. Its revenue from operations was up 33.82 per cent at Rs 958.11 crore during the period under review as against Rs 715.97 crore in the corresponding quarter of the previous fiscal. According to the company, it has returned to "profitability with a zero net debt. Shoppers Stop total expenses were at Rs 905.14 crore, up 16.23 per cent in Q3/FY 2021-22, as against Rs 778.78 crore. Shoppers Stop MD & CEO Venu Nair said: "We are witnessing positive signs from a strategy that we initiated in the last 2 years. As the fashion and beauty retail is seeing encouraging early trends from the Wardrobe Reboot, we are rightly poised to capture the pent-up demand." Customer sentiments are extremely positive owing to the ...

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