Spencer's Retail Faces Increasing Losses Despite Improved Margins

Spencer's Retail Ltd reported a net loss of Rs 61.61 crore for the June FY'26 quarter, up from Rs 43.43 crore a year ago. Revenue fell 24.16% due to store closures aimed at cutting losses, though margins improved year-on-year. Total expenses decreased by 21.14%.

Spencer's Retail Ltd, a unit of the RP Sanjiv Goenka Group, announced a sharp increase in its consolidated net loss to Rs 61.61 crore for the June quarter of fiscal year '26. This follows a previous loss of Rs 43.43 crore recorded in the same period last year.

According to a regulatory filing on Wednesday, the company's revenue from operations saw a significant decline of 24.16% to Rs 415.83 crore, compared to Rs 548.32 crore in the year-ago quarter. Spencer's attributed this drop to closing several stores to mitigate rising losses, although it did report an improvement in profit margins.

Total expenses for Spencer's Retail decreased by 21.14%, landing at Rs 488.91 crore. Despite the financial downturn, the company managed to enhance its operational efficiency. Shares of Spencer's Retail concluded Wednesday's trading at Rs 60.05 on the BSE, experiencing a marginal decline of 0.23%.

(With inputs from agencies.)