Shoppers Stop share price gains 5% after Q4 results. Here's what technical analysts say

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Shoppers Stop share price surged over 5% on Tuesday's session following the company's announcement of a 62.55% jump in its consolidated net profit, which came in at ₹23.18 crore for the fourth quarter that ended on March 31, 2024. According to a regulatory filing from Shoppers Stop, the firm reported a consolidated net profit of ₹14.26 crore at the same time last year. Shoppers Stop share price today opened at ₹730.25 apiece on BSE, the stock hit an intraday high of ₹750 and an intraday low of ₹707.35.

During the reviewed quarter, the company's consolidated revenue from operations was ₹1,046.34 crore, compared to ₹923.90 crore during the same period in the previous fiscal year. Comparing the fourth quarter's overall expenses to the same period last year, they were ₹1,049.28 crore more than ₹928.78 crore. Also Read: Trent shares hit a fresh record high on Q4 boost, up 218% in 1 year.

Should you buy the stock after Q4 result? The firm reported that its net profit for the fiscal year that ended on March 31, 2024, was ₹77.25 crore, a drop from ₹116.01 crore the year before. According to the company, consolidated revenue from operations increased to ₹4,316.59 crore in FY24 from ₹4,022.13 crore in FY23. Shoppers Stop's managing director and CEO, Kavindra Mishra, stated in an exchange filing that the company produced steady performance in spite of the ongoing downturn in demand.

The company's long-term objective is to raise overall margins, and they have stayed committed to promoting operational excellence. According to Mishra, they have worked hard to maintain and enhance the quality of the customer journey, as seen by the fact that 78% of their total sales come from their loyal customers. Their emphasis on premiumisation