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Shoppers Stop Q4 Net down 1.1% to Rs 10.17 crore

Shoppers Stop Q4 Net down 1.1% to Rs 10.17 crore

Retail chain Shoppers Stop Ltd  today reported a marginal decline of 1.16 per cent in standalone net profit at Rs 10.17 crore for the fourth quarter ended March 31, 2016.

The company had posted a net profit of Rs 10.29 crore in January-March quarter a year ago, Shoppers Stop said in a BSE filing.

Total income from operations during the period under review was Rs 895.94 crore, up 9.68 per cent, from Rs 816.80 crore in the same quarter of the previous fiscal.

For the year ended March 31, 2016, Shoppers Stop reported standalone net profit of Rs 25.17 crore, down 38.20 percent, compared with Rs 40.73 crore in the corresponding period a year ago.

Shoppers Stop’s net sales for 2015-16 increased by 11.90 per cent to Rs 3,413.20 crore compared with Rs 3,049.97 crore in the previous fiscal year.

“FY 16 has been an action-packed year for us as we cemented our Omni-channel strategy through a slew of initiatives such as our partnership with e-commerce technology platform Hybris from SAP, our subsequent refreshed shopping website and the launch of our new mobile app,” Shoppers Stop said.

The company, which runs 94 stores of Shopper Stop and HyperCity formats, would add nine stores in FY 2016-17 and cross 100 mark this fiscal.

Shares of Shoppers Stop today settled at Rs 395.45 at BSE, up 0.20 per cent from previous close.