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Shoppers Stop net loss widens to Rs 25.11 crore in December quarter

Shoppers Stop's total expenses stood at Rs 778.78 crore during the quarter as against Rs 963.90 crore a year ago, down 19.2 percent.

January 15, 2021 / 10:06 PM IST
 
 
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Shoppers Stop Ltd on Friday reported widening of its consolidated net loss to Rs 25.11 crore for the third quarter ended December 31, 2020. The company had posted a net loss of Rs 6.51 crore in the October-December quarter a year ago.

Its total income declined 27.2 percent to Rs 746.45 crore during the period under review as against Rs 1,025.53 crore in the corresponding quarter of the previous fiscal, Shoppers Stop said in a regulatory filing. Shoppers Stop's total expenses stood at Rs 778.78 crore during the quarter as against Rs 963.90 crore a year ago, down 19.2 percent.

Shoppers Stop MD and CEO Venu Nair said, "Business recovery during the festival period has been encouraging. The festive period helped footfall into stores and also generated higher digital sales." Its digital initiatives such as white-glove services (video assisted initiative), yellow messenger services (chat enabled) and appointment services (through website and app) have engaged customers to a new level and contributed to our growth in the third quarter, he added.

Share of Shoppers Stop on Friday settled at Rs 206.75 on the BSE, down 2.75 percent from the previous close.
PTI
first published: Jan 15, 2021 10:06 pm

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