Shoppers Stop Ltd, a leading fashion and beauty department store witnessed a 63 percent rise in net profit to Rs 23 crore ($2.8 million), as against Rs 14 crore in the year-ago period.
The company’s revenue for the quarter rose by 13 percent to Rs 1,046 crore, as against Rs 929 crore reported in the corresponding period of the previous fiscal year.
For the fiscal year ended March 31, 2024, the company’s net profit was at Rs 77 crore while its revenue stood at Rs 4,317 crore.
During the quarter, Shoppers Stop opened 7 department, 3 beauty and 12 Intune stores with an investment of Rs 84 crore.
Commenting on the results, Kavindra Mishra, managing director CEO, Shoppers Stop Ltd in a statement said, “Shopper Stop delivered consistent performance despite continued softness in demand. We remain focused on driving operational excellence and our long-term goal is to increase the overall margins.”
“I am confident of the medium to long-term potential of retail growth, with key thrust on ‘Growing our Core’ through impeccable customer journey, premiumization and have our portfolio to high growth spaces,” he added.
Founded in 1991, Shoppers Stop Ltd has 112 department stores, 7 premium home concept stores, 87 specialty beauty stores, 22 Intune stores and 21 airport doors.
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