Spencer's Retail Q1FY22 results posted

31th August 2021, Mumbai:

RP-Sanjiv Goenka Group-owned Spencer's Retail reported a 7 per cent growth in its standalone sales during the first quarter ended June 2021.

As per Fashion Network, the company’s revenues also rose marginally to Rs 552 crore during the quarter as against Rs 547 crore in the corresponding quarter last year. Its consolidated net loss narrowed to Rs 24 crore as against a net loss of Rs 55 crore in the year-ago period.

Spencer’s Retail’s total expenses for the quarter declined by 2 percent at Rs 598 crore, as against Rs 609 crore in the year-ago period. Its consolidated bottom line improved by Rs 31 crore, shares Shashwat Goenka, Sector Head, RP-Sanjiv Goenka Group.

The Kolkata-based group also added two new stores during the quarter. It currently operates around 190 multi-format stores in over 42 cities in India.

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