Shoppers Stop Q2 net jumps to Rs 16 crore

NEW DELHI: Retail chain Shoppers Stop today reported 60.44 per cent increase in standalone net profit at Rs 15.9 crore for the second quarter ended September 30, 2014-15.

The company had posted net profit of Rs 9.91 crore in the the July-September quarter of last fiscal, 2013-14.

Its income from operations in Q2, 2014-15 moved up to Rs 851.98 crore, an increase of 17.87 per cent as against Rs 722.8 crore in the same quarter of last fiscal, the company said in a BSE filing.

"We have registered a strong like-to-like growth of 11 per cent in Q2 FY'15 owing to end of season sale and the festive season," Shoppers Stop Ltd Customer Care Associate and Managing Director Govind Shrikhande said.

For the first half of 2014-15, the company posted net profit of Rs 16.65 crore as against net profit of Rs 11.55 crore in the corresponding period last year.

Income from operations for six months ended September 30, rose to Rs 1,461.87 crore as compared to Rs 1,257.53 crore in same period in the previous fiscal.

The company has 72 stores across 33 cities in India. Shoppers Stop scrip was trading at Rs 499.55, down 4.53 per cent, on the BSE.