Shoppers Stop shares fall 5% after Q3 earnings

New Delhi: Shares of retail chain Shoppers Stop slumped 5 per cent in early trade on Friday after the company reported a decline of 41.26 per cent in consolidated net profit at Rs 36.85 crore in the third quarter ended December 2023.

The stock fell 4.75 per cent to Rs 668.15 on the BSE.

It declined 4.99 per cent to Rs 667.40 on the NSE.

The company had posted a net profit of Rs 62.74 crore in the October-December period a year ago, according to a regulatory filing from Shoppers Stop.

However, its revenue from operations was up 8.83 per cent to Rs 1,237.52 crore during the quarter under review. It was Rs 1,137.07 crore a year ago.

Its total expenses in the December quarter were up 10.62 per cent to Rs 1,189.96 crore.

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