Shoppers Stop shares fall 5% after third-quarter earnings

Shares of retail chain Shoppers Stop fell 5 per cent in early trade on Friday after the company reported a 41.26 per cent decline in consolidated net profit to Rs 36.85 crore for the third quarter ended December 2023. The stock fell 4.75 percent to Rs 668.15. On BSE.

It fell 4.99 percent to Rs 667.40 on NSE. According to Shoppers Stop’s regulatory filings, the company had posted a net profit of Rs 62.74 crore in the October-December period a year ago.

However, its revenue from operations increased by 8.83 per cent to Rs 1,237.52 crore during the quarter under review. A year ago it was Rs 1,137.07 crore. Its total expenses increased by 10.62 percent to Rs 1,189.96 crore in the December quarter.

Shoppers Stop’s total revenue, which includes other income, was up 6.83 per cent at Rs 1,240.88 crore.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)