Shoppers Stop Shares Fall 1% After Q3 Profit Decline
Jan 19, 2024 16:52
Shoppers Stop shares recovered after an initial drop, ending 1% lower. The decline follows a 41.26% fall in net profit for the third quarter.
New Delhi, Jan 19 (PTI) Shares of retail chain Shoppers Stop recovered most of their early lost ground and ended 1 per cent lower on Friday.
During the morning deals, it fell 5 per cent 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 during the day on the BSE. Later, it recovered most of the early lost ground and ended at Rs 694.10, lower by 1.05 per cent from previous close.
Shares of the company declined 4.99 per cent to Rs 667.40 in intra-day trade on the NSE. It ended 0.78 per cent lower at Rs 697.
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.
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.
The company's 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.
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