Shoppers stop posts three time jump to registers Rs. 44.32 crore profit for December quarter

Shoppers Stop Monday posted nearly three-fold jump in standalone net profit at Rs 44.32 crore for the third quarter ended December 2018. The retail chain had posted a net profit of Rs 16.34 crore in the same period of the previous fiscal, Shoppers Stop said in a statement.

Its total income stood at Rs 1,001.99 crore during the quarter under review, up 3.66 percent as against Rs 966.58 crore in the year-ago period. "We have witnessed a phenomenal 8.9 per cent LTL (like-to-like) growth in Q3 FY19, highest in the last five quarters backed by an uptick across all the zones and categories including apparels, personal accessories and beauty which saw a double-digit growth," said Rajiv Suri, MD and CEO, Shoppers Stop Customer Care Associate.

According to him, October-December was a good quarter for the company, mainly stimulated by the private brand business, which grew by 29 percent. "December saw the highest ever sales in a single month since our inception," he further said. Its total expenses stood at Rs 932.78 crore, as against Rs 923.02 crore, up 1.05 percent. Shares of Shoppers Stop Ltd on Monday settled at Rs 516 on the BSE, up 0.51 per cent from the previous close.