04 May 2022, Mumbai:
Shares of Shoppers Stop NSE -2.40 % plummeted 8.7 percent in early trade on Friday after the retail chain reported a net consolidated loss of Rs 15.85 crore for the quarter ended March 31, 2022, as against the loss of Rs 23.71 crore in the corresponding quarter in the previous fiscal.
The company’s share price dropped to a low of Rs 498.35 as against Rs 540.75 at the previous close on the BSE.
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The total income of the company in the fourth quarter of the previous financial year stood at Rs 734.73 crore as compared to Rs 704.70 crore in the corresponding quarter in FY 2020-21, reports said.
Its revenue from operations was up 4.83 percent to Rs 713.34 crore during the period under review as against Rs 680.46 crore in the corresponding quarter of the previous fiscal. Post the Omicron wave in January, the company has seen a sharp recovery in footfalls.
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On a segmental basis, Shoppers Stop's Private Brands revenue grew 9% year-on-year, beauty segment revenue up by 9% year-on-year and e-commerce sales continued to grow up by 5% year-on-year.
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CREDITS: ET Capital Market Moneyworks4me Fashion Network Dev Discourse (The news article has not been edited by DFU Publications staff)
