Stocks

Shoppers Stop drops nearly 3% on Q2 net loss

PTI New Delhi | Updated on October 24, 2019 Published 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
This article is closed for comments.
Please Email the Editor