Shoppers Stop drops nearly 3% on Q2 net loss

PTI New Delhi | Updated on October 24, 2019

Shares of Shoppers Stop on Thursday dropped nearly 3 per cent after the retail chain firm reported a consolidated net loss of ₹8.17 crore in the second quarter ended September.

The scrip of the company declined 2.46 per cent to ₹383.80 on the BSE. On the NSE, it fell 2.80 per cent to ₹383.45.

The firm had posted a net profit of ₹11.84 crore in the corresponding period of the previous financial year, Shoppers Stop said in a BSE filing.

Total income fell 0.85 per cent to ₹884.50 crore during the period under review as against ₹892.14 crore of the corresponding quarter of the previous fiscal.

Commenting on the results Shoppers Stop MD and CEO Rajiv Suri said, “Whilst, the quarter has been muted due to a subdued economy affecting our like-to-like (LTL) sales (-1 per cent), we have increased efficiencies keeping our LTL operating costs below that of the last year.”

Published on October 24, 2019

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