Shoppers Stop Q2 Results: Co reports Rs 20.6 crore net loss on muted demand
Shoppers Stop on Tuesday reported a consolidated net loss of Rs 20.59 crore in the second quarter ended September 30, 2024 on account of muted demand. The company had posted a net profit of Rs 2.73 crore in the July-September period a year ago, according to a regulatory filing from Shoppers Stop.
However, its total income was up 7.13 per cent to Rs 1,124.62 crore during the quarter under review. It was Rs 1,049.70 crore a year ago.
The company's total expenses in the September quarter stood at Rs 1,151.31 crore.
During the July-September quarter, it added 25 stores, 19 INTUNE, 1 Department and 5 HomeStop Stores.
«Demand was muted in July and August, impacted by fewer wedding dates, extended rains, and overall weak discretionary spending,» Shoppers Stop Executive Director and CEO Kavindra Mishra said.
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