Shoppers Stop registers 91.4% decline in consolidated net profit in Q4, FY24
Indian retail chain Shoppers Stop registered a 91.4 per cent decline in consolidated net profit to Rs 1.99 crore in Q4, FY24 as against a Rs 23.18 crore net profit registered by the company in the corresponding quarter last year, as per a regulatory filing by the company.
However, the brand’s revenue from operations increased by 1.68 per cent to Rs 1,064 crore ($133 million) in the March quarter, as against Rs 1,046.34 crore ($130.8 million) a year prior.
The company's total expenses amounted to Rs 1,089.76 crore ($136.2 million), marking a 3.85 per cent increase.
Kavindra Mishra, Managing Director and CEO, Shoppers Stop, avers, despite ongoing softness in demand and a challenging macroeconomic environment, Shoppers Stop delivered a consistent performance with 4 per cent growth in revenue and 3 per cent like-for-like growth (Non-GAAP), marking its second consecutive quarter of LFL growth.
For the full FY25, Shoppers Stop's net profit declined by 86 per cent to Rs 10.89 crore ($1.4 million), compared to Rs 77.25 crore ($9.6 million) in FY24.
In FY25, Shoppers Stop's revenue from operations rose by 7.2 per cent to Rs 4,627.64 crore ($578.5 million).
In a separate filing, the Raheja family-promoted retail firm informed its board about the approval of Nirvik Singh's appointment as Chairman, following the retirement of B S Nagesh. This change will take effect on July 18, 2025.
Furthermore, the board approved an additional investment of up to Rs 50 crore ($6.25 million USD) in Global SS Beauty Brands, its wholly-owned subsidiary, through a rights subscription.
Mishra states, despite the gradual demand recovery, the company remains optimistic due to structural changes like premiumization, customer engagement campaigns, and India's rising affluence and evolving consumer aspirations. It will continue to build strong momentum in premiumization, beauty, and value fashion (Intune) and focus on experiential retail, digital personalization, and expansion to drive sustainable growth in FY26 and beyond.
