Spencer’s Retail’s Q2, FY25 net loss widens to Rs 87 crore
07 November 2024, Mumbai
The Q2, FY25 net loss of RP-Sanjiv Goenka Group-owned, Spencer’s Retail widened to Rs 87 crore ($10.3 million) as against Rs 70 crore in the year-ago quarter.
The company’s revenue for the quarter, spanning July-Sep’24, declined to Rs 518 crore, as against Rs 574 crore in the corresponding quarter of the previous financial year. The e-commerce company also gained traction and grew by 21 per cent Y-o-Y during the quarter.
During the quarter, the company also opened one store to take store count including Natures Basket to 131 stores across 27 cities in India.
Shashwat Goenka, Chairman, Spencer’s Retail, says, the company remains focused on driving business growth in its key operating regions, emphasising improvement in key operating metrics such as margins, sales productivity, and costs, and advancing its share of the e-commerce mix. A multi-format retailer, Spencer’s Retail offers products across categories such as FMCG, fashion, general merchandise, personal care, home essentials, etc.
