K Raheja Group-owned Shoppers Stop, which operates large format retail chain and other specialty stores, today posted a consolidated net loss of Rs 1.52 crore for the quarter ended June 30, 2011.
The company had a net profit of Rs 9.29 crore in the year-ago period, Shoppers Stop said in a statement.
During the period under review, the firm’s total income increased by 66.6 per cent to Rs 593.31 crore, against Rs 355.95 crore posted in the corresponding quarter last fiscal.
The company said during the period, it has opened three Shoppers Stop stores at Chennai, Indore and Pune. Besides, the group has also launched three Crossword stores across Indian cities taking the total to 76 stores.
"Shoppers Stop continues its steady growth trajectory quarter on quarter. Our momentum in adding stores is gaining traction and our robust expansion plan is on track," Shoppers Stop (Customer Care Associate and Managing Director) Govind Shrikhande said.
On a standalone basis, the firm’s net profit increased marginally to Rs 11.68 crore from Rs 10.01 crore recorded in the same period last fiscal.
The company’s standalone total income increased by 14.41 per cent to Rs 393.02 crore against Rs 343.49 per cent in the year ago period.
Shares of Shoppers Stop was trading at Rs 443.10 on the Bombay Stock Exchange, down by 4.90 per cent from the previous close.
Source – The Economic Times
