Retail chain Shoppers Stop posts net loss of Rs 22.72 cr in first quarter

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Retail chain Shoppers Stop posts net loss of Rs 22.72 cr in first quarter - Business Standard

Quick Summary:

Retail chain Shoppers Stop Ltd on Thursday reported a consolidated net loss of Rs 22.72 crore in the June 2024 quarter, hit by subdued consumption due to prolonged heat waves, elections and inflation.

The company posted a consolidated net profit of Rs 14.49 crore in the corresponding period last fiscal, Shoppers Stop said in a regulatory filing.

Total expenses were higher at Rs 1,104.51 crore in the first quarter compared to Rs 980.92 crore in the same period last fiscal, the company said.