26 January 2022
The Weekly
India

Shoppers Stop has reported a consolidated net profit of Rs 77.32 crores (US$10.3mn) for the quarter ended Dec 31, 2021 as against a net loss of Rs 25.11 crore) (US$3.34mn) in Q3 FY2021. Its revenue from operations grew 33.82% at Rs 958.11 crores (US$127.6mn) during the October-December quarter as against Rs 715.97 crores (US$95.3mn) a year-ago. The company saw a sustained demand during the festive period and the marriage season in October and November.

During the quarter, Shoppers Stop incurred a capex of Rs 55 crores (US$7.3mn) for new stores and renovations. It opened five new stores during the period. Stating that the third Covid-19 wave may cause a small blip in the growth trajectory, the company said: "Given the underlying business fundamentals, the enhanced digital capabilities and the balance sheet strength, Shoppers Stop is well poised to embark on a new wave of growth and create value for all stakeholders."

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