Shoppers Stop Q1 standalone net trebles to Rs 1.64cr
Shoppers Stop opened 20 outlets in April-June and is well positioned for a steady growth trajectory, said, Govind Shrikhande, MD.
July 30, 2013 / 17:00 IST
Moneycontrol Bureau
Departmental store operator Shoppers Stop's first quarter standalone net profit trebled year-on-year to Rs 1.64 crore, but was down 89 percent quarter-on-quarter.The company's total income in April-June increased 20 percent from a year ago, but declined 14 percent sequentially to Rs 537 crore.Shoppers Stop's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 29 percent year-on-year to Rs 23 crore and same-store sales grew 12 percent."Our momentum of store expansion continues to be robust with the addition of 20 new stores across all formats this past quarter. Shoppers Stop is well positioned for a steady growth trajectory and will continue to extend its retail footprint across formats with a keen focus on existing as well as tier II cities," said Govind Shrikhande, MD.The company has a total retail area of 36.56 lakh square feet. Among the total stores the company opened included 5 Shoppers Stop outlets, 2 Home Stop stores, 2 MAC stores, 3 Clinique store, 2 Estee Lauder stores 1 Bobbi Brown store, 3 Crossword outlets and 2 HyperCITY hypermarkets.Shoppers Stop shares were down close to 4 percent at Rs 350.95 on NSE in late afternoon trading. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
