The Q4 net profit of prominent fashion and beauty department store Shoppers Stop increased by 63 per cent to Rs 23 crore ($2.8 million) compared to Rs 14 crore in the same period last year.
During this quarter, the company's revenue also expanded by 13 per cent to Rs 1,046 crore, up from Rs 929 crore reported in the corresponding period of the previous fiscal year.
For the entire fiscal year ending on March 31, 2024, Shoppers Stop recorded a net profit of Rs 77 crore, while its revenue stood at Rs 4,317 crore.
Throughout the quarter, Shoppers Stop expanded its footprint by opening 7 department stores, 3 beauty outlets, and 12 Intune stores, investing a total of Rs 84 crore.
Expressing his satisfaction with the company’s performance, Kavindra Mishra, Managing Director and CEO, Shoppers Stop, emphasises on its commitment to enhance operational efficiency by enhancing customer experience, premiumisation and expanding into high-growth segments.
Established in 1991, Shoppers Stop operates 112 department stores, 7 premium home concept stores, 87 specialty beauty outlets, 22 Intune stores, and 21 airport locations.
