Shoppers Stop Ltd posts Q4 net profit of Rs 14 crore

By

Maverick Martins

Published
Apr 27, 2023

Fashion retail chain Shoppers Stop Ltd reported a net profit of Rs 14 crore ($1.7 million) for the fourth quarter ended March 2023, as against a net loss of Rs 15 crore in the year-ago period.

The company’s revenue for the quarter stood at Rs 924 crore, as against Rs 713 crore reported in the corresponding period of the previous fiscal year.

Commenting on the results, Venu Nair, managing director CEO at Shoppers Stop in a statement said, “I am pleased to share that we have continued to deliver robust sales growth this quarter, which is broad based with a healthy balance of price, volume, and mix. This is the highest sales and sales growth with all KPI’s consistently improving over period. All our strategic pillars have delivered this quarter, and we continue our sharp focus on robust growth on each one of them.”

“For the full year our private brands and beauty grew by 70 percent and 54 percent respectively. We have begun distributing premium Beauty Brands from last quarter,” he added.

Shoppers Stop currently operates 98 department stores, 7 premium home stores, 142 specialty beauty stores of M.A.C, Estée Lauder, Bobbi Brown, Clinique, Jo Malone, Too Faced, SS Beauty and 23 Airport doors.