Shoppers Stop Q4 net up 27% at Rs 10.30 crore

NEW DELHI: Shoppers Stop Ltd, the retailer promoted by K Raheja Corp. Group, posted a 27% increase in net profit to Rs 10.3 crore in the fourth quarter after adding stores and improving sales.

Gross retail turnover climbed 9% to Rs 907.2 crore in the three months ended March 31 from a year earlier, the company said in a statement on Thursday. The group operates stores such as Shoppers Stop, HomeStop, HyperCity and Crossword.

Profit for the year ended March rose 10% to Rs 40.7 crore, while turnover increased 11.7% to Rs 3,370 crore, the company said.

“While Shoppers Stop continues to do well, HyperCity too has shown significant improvement over last year,” managing director Govind Shrikhande said in the statement. He added that the results were satisfactory also due to “our internal operating efficiencies.”

The company has signed on a new technology platform for its e-tailing initiative, Shrikhande said.

The group added one MAC store, one Bobbi Brown store, one Crossword store and one HyperCity express store in the quarter.