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Retail chain Shoppers Stop on Friday reported 20.58 per cent decline in standalone net profit at Rs 13.77 crore for the quarter ended December 31, 2014 due to higher expenses. The company had posted a net profit of Rs 17.34 crore in the corresponding quarter of last fiscal, 2013-14.
Its income from operations in the quarter under review moved up to Rs 754.93 crore, an increase of 7.79 per cent as against Rs 700.35 crore in the same quarter of last fiscal, the company said in a BSE filing.
“Shoppers Stop Ltd continues its growth trajectory by adding new stores across formats ... We are formulating our omni-channel retailing approach over the next few months. We are confident that our omni-channel efforts will help us in countering the disruption created by online players,” Shoppers Stop Ltd Customer Care Associate and Managing Director Govind Shrikhande said.
Its overall expenses stood at Rs 730.61 crore compared with Rs 670.88 crore in the corresponding period a year ago. The company has 73 stores across 34 cities in India.
Shoppers Stop closed at Rs 464.20 a piece, down 1.97 per cent from its previous close on the BSE.
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