K Raheja Group-owned Shoppers Stop, which operates large format retail chain and other speciality stores, has posted a consolidated net loss of Rs 1.52 crore for the quarter ended June 30, 2011.

The company had a net profit of Rs 9.29 crore in the year-ago period, it said in a statement.

During the period under review, the total income increased by 66.6 per cent to Rs 593.31 crore from Rs 355.95 crore posted in the corresponding quarter last fiscal.

Shoppers Stop said during the period, it has opened three stores at Chennai, Indore and Pune. Besides, the group has also launched three Crossword stores across Indian cities taking the total to 76 stores.

“Shoppers Stop continues its steady growth trajectory quarter-on-quarter. Our momentum in adding stores is gaining traction and our robust expansion plan is on track,” Shoppers Stop (Customer Care Associate and Managing Director), Mr Govind Shrikhande, said.

On a standalone basis, the firm’s net profit increased marginally to Rs 11.68 crore from Rs 10.01 crore recorded in the same period last fiscal. Total income increased by 14.41 per cent to Rs 393.02 crore (Rs 343.49 per cent).

Meanwhile, the company shares ended at Rs 453 on the Bombay Stock Exchange, down by 2.78 per cent from the previous close.

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