The Hindu Business Line : Shoppers' Stop Q4 net down despite strong sales

Shoppers' Stop Ltd has recorded a 38 per cent increase in net sales at Rs 326.1 crore from Rs 235.7 crore for the fourth quarter ended in March. Net profit for the quarter stood at Rs 1.95 crore against Rs 2.27 crore recorded in the previous quarter.

Mr B.S. Nagesh, Customer Care Associate and Managing Director of Shoppers' Stop, said: "We received the Emerging Market Retailer of the Year at the World Retail Congress 2008 awards which is indeed a huge achievement and honour for us.

"This quarter saw our margins grow by 35 per cent as compared to the corresponding quarter last year. During the quarter, we added 0.09 million sq ft of area across our various formats, taking our total retail area to 1.6 million sq ft.

We have also filed our Draft Letter of Offer for rights issue with SEBI on March 26."

Mr Govind Shrikhande, Customer Care Associate and CEO of Shoppers' Stop, said: "We recorded an exceptionally strong sales growth for the quarter and the year, of 38 per cent and 34 per cent respectively

More Stories on : Retailing

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GSK Consumer Healthcare Q1 net up 34% at Rs 56 cr

Suven Life net dips 33%

Mahindra Lifespace net zooms

Higher interest income drives ICICI Bank Q4 net up 39%

IDBI Bank Q4 net surges 15% on higher interest income

Cash recovery propels Canara Bank net

Treasury profits boost Corporation Bank net

Vijaya Bank posts 9% growth in net profit

Shoppers' Stop Q4 net down despite strong sales