Shoppers’ Stop, the K Raheja owned, second biggest listed retailer in the country, has announced increase of 29% in Q3 gross revenues, up 59 crore from Rs. 204 crore to 263 crore, and of 16% in Q3 net profits, up 2 crore, from Rs. 12 crore to Rs. 14 crore, according to the quarterly financial results announced by the company. Q3 Operating Profit (Profit before interest, depreciation and tax) at Rs. 25 crore was 27% higher than Rs. 19.6 crore recorded in the corresponding period last year.
Q3 has been significant as it has in line with expectations has contributed 30% of projected annual sales, this year.
While, the margin of 31.5%, for the first nine months, is higher by 1.2%, the company has more importantly been able to contain shrinkage below 0.5%, lower than the international standards.
While, Shoppers’ Stop opened a new store in Lucknow in the third quarter, it has also added the Mothercare, Crossword and F&B format stores during the period.
Shopper’s Stop at the quarter end had a total of 87 stores/ doors comprising: Shoppers’ Stop (20), HomeStop (2), Mothercare (11), Crossword (41) and F&B outlets (13).