Spencer’s Retail, a subsidiary of CESC Ltd, has reported a net loss of Rs 114 crore for 2014—15 fiscal.
The company had reported a net loss of Rs 111 crore during the previous financial year.
The loss was incurred despite a higher revenue of Rs 1,688 crore during the year under review as against Rs 1,474 crore in 2013—14, the company said in a statement.
Commenting on the results, CESC chairman Sanjiv Goenka said heavy discounts by a few e—commerce portals had affected its business but sales expanded despite that.
“The sales per square feet were at Rs 1,380 against Rs 1,306 in 2013—14,” he said.
The regions which were more affected are cities like Mumbai and Bangalore and segments including garments and appliances, he added.