Shoppers Stop Q1FY23 results posted

28 July 2022, Mumbai:

Retail Chain Shoppers Stop reported a consolidated net profit of Rs 22.83 crore for the first quarter that ended on June 30, 2022. The company had posted a net loss of Rs 104.89 crore in the April-June quarter a year ago, said Shoppers Stop in a regulatory filing.

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Its revenue from operations during the period under review was at Rs 948.44 crore, up over four-fold in comparison to a lower base of the pandemic-impacted corresponding quarter. It was Rs 205.23 crore in Q1/FY 2021-22.

Shoppers Stop's total expenses were at Rs 921.63 crore, up over two-fold in Q1/FY 2022-23 as against Rs 408.95 crore.

Its e-commerce sales grow by 29 percent on a year-on-year (YoY) basis, it added.

During the quarter "average selling price (ASP) has improved by 15 percent YoY and the average transaction value (ATV) by 7 percent Y[-o-Y in Q1FY23, The K Raheja Group-owned retailing firm Shoppers Stop continues to remain debt free and opened six new stores during the quarter.

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