Shoppers Stop Ltd on Tuesday announced its fiscal third quarter earnings report with profit at Rs 52.23 crore, posting a growth of 41.74 per cent in comparison to Rs 36.85 crore during the same period last year. The company posted a quarterly profit growth after two quarters of loss. It said that the growth was driven by strong demand for premium products during the festive season. Shoppers Stop reported Q3 revenue from operations at Rs 1,379.47 crore, up 11.47 per cent on-year. The company had posted a revenue of Rs 1,237.52 crore during the third quarter of FY24. Shoppers Stop reported EBITDA at Rs 245.7 crore, up 13 per cent YoY and EBITDA margin came in at 17.8 per cent.
Kavindra Mishra, MD and CEO, Shoppers Stop Ltd, said, “We ended Q3 with a fairly positive note and the growth trajectory of the business heading in the right direction. We have delivered healthy volume-led revenue growth of 9 per cent and LFL growth of 4 per cent, despite higher inflation and decline in consumer spending.
Also ReadL&T 90-hour workweek row: ITC chairman Sanjiv Puri says ‘would not do that’, bats for work-life balance
The company’s premium categories contributed to 64 per cent of its total revenue, and it continued to improve at over 9 per cent YoY and +5 per cent on Like-for-like (LFL) basis. Kavindra Mishra said, “We had taken a number of initiatives during the quarter such as “India Weds with Shoppers Stop”, “Gifts of Love”, “Winter Magic Campaign” and “ShowStoppers”, “Singles Day” in Beauty, etc. These initiatives led to an increase in premiumization, and our premium categories contributed 64 per cent of our total revenue. We have improved every KPI’s during the quarter. Our strategic focus is to make Private Brands profitable. I am extremely pleased to say that Private Brands generated healthy margin growth, driven by lower markdown and obsolescence. The Beauty category continues to grow, sales grew +3 per cent, led by a Fragrance +14 per cent. Our flagship store at Inorbit Malad, Mumbai, has been fully renovated and is now operational, featuring premium product offerings and enhanced customer experiences.”
Also Read DMart Q3 Earnings: Avenue Supermarts posts profit growth of 4.79% at Rs 723.72 crore, announces leadership transition Tata Elxsi Q3 Results: Profit drops by 3.59% to Rs 199.01 crore, » Read More
