Retail Giant Shoppers Stop Faces Profit Plummet Despite Revenue Rise

Shoppers Stop reported a significant 91.4% drop in profits for the March quarter, despite a slight increase in revenue. The company also announced leadership changes and future plans focusing on premiumisation and digital personalization to drive sustainable growth. Shares saw a small increase on the BSE.

On Tuesday, retail giant Shoppers Stop disclosed a substantial decline in its consolidated profit for the March quarter, falling 91.4% to Rs 1.99 crore. This sharp drop contrasts a year-ago profit of Rs 23.18 crore, as stated in a regulatory submission.

Despite the profit setback, Shoppers Stop saw a 1.68% increase in revenue, reaching Rs 1,064 crore in the March quarter. However, total expenses rose to Rs 1,089.76 crore, marking a 3.85% increment, which pressured profit margins. The fiscal year portrayed an 86% decline in net profit to Rs 10.89 crore, while revenue climbed 7.2% to Rs 4,627.64 crore.

In a concurrent announcement, the board approved the appointment of Nirvik Singh as Chairman, succeeding B S Nagesh effective July 18, 2025. Shoppers Stop MD and CEO, Kavindra Mishra, expressed optimism about the future despite ongoing recovery challenges, emphasizing strategic focuses on premiumisation and digital innovations.

(With inputs from agencies.)