Shoppers Stop posts Q4 net loss of Rs 16 crore

By

Maverick Martins

Published
Apr 29, 2022

Shoppers Shop Ltd reported a net loss of Rs 16 crore ($2.2 million) for the quarter ended March 2022, as against a net loss of Rs 24 crore it reported in the year-ago period.

The company’s revenue during the quarter rose by 5 percent to Rs 713 crore, as against Rs 680 crore ot reported in the corresponding period of the previous fiscal year.

For the financial year 2021-22, the company reported a net loss of Rs 47 crore with a revenue of Rs 2,519 crore.

Commenting on the Q4 results, Venu Nair, managing director CEO of Shoppers Stop in a statement said, “The Company ended the quarter on a satisfactory note despite Q4FY22 getting disrupted due to the partial lockdowns caused by the Omicron wave in January. The underlying demand continued to be strong across all businesses with most segments posting a Y-o-Y growth over a very strong Q4 FY21 base. The network expansion and campaigns have continued to progress well in anticipation of an upbeat FY23 expected to be a normal year after a gap of two years of lockdowns.”

During the quarter, Shoppers Stop opened 24 stores during the fiscal year and plans add another 27 stores in the financial year 2023.