The Hindu Business Line : Shopper's Stop Q3 net profit up 16 pc

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Mumbai Jan. 27 Shopper's Stop has recorded a 16 per cent increase in net profit for the third quarter at Rs 14.1 crore against Rs 12.1 crore in the corresponding quarter last year.

The retailing company sales turnover reported a 29 per cent increase in gross total retail turnover at Rs 262.8 crore for the third quarter ended December 31, 2006 compared to Rs 204 crore for the corresponding quarter last year.

Operating profit (before interest, depreciation and tax) increased by 27 per cent to Rs 25 crore from Rs 19.6 crore in the corresponding quarter last year.

Mr B.S. Nagesh, Customer Care Associate and Managing Director of Shopper's Stop Ltd, said: "The third quarter has been a significant and strong one for us, contributing to almost 30 per cent of the annual projected sales.

"This has been in line with our expectations for this quarter. Margin of 31.5 per cent has seen a 1.2 per cent increase for the nine month period, shrinkage has been maintained below 0.5 per cent levels, which is lower than the international benchmark."

New stores

In this quarter, Shoppers' Stop opened a new store in Lucknow and also added stores to the Mothercare, Crossword and F&B formats taking the total number of stores/doors as on December 31 to: Shoppers' Stop (20), HomeStop (2), Mothercare (11) and F&B outlets (13), and Crossword Book Stores (41).

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