Shoppers Stop Q4 Results | Retail chain's net profit shoots up 62%
Shoppers Stop Q4 Results | Retail chain's net profit shoots up 62%


Shoppers Stop Q4 Results | Retail chain's net profit shoots up 62%

Retail chain Shoppers Stop Ltd on Monday (April 29) reported a 62.3% year-on-year (YoY) jump in net profit at ₹23.2 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Shoppers Stop posted a net profit of ₹14.3 crore, the company said in a regulatory filing. The company's revenue from operations increased 13.2% to ₹1,046.3 crore against ₹923.9 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 7.7% to ₹166.6 crore in the fourth quarter of this fiscal over ₹154.7 crore in the year-ago period. The EBITDA margin stood at 15.9% in the reporting quarter compared to 16.7% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Shoppers Stop reported a total sales of ₹1,000 crore, marking a 9% increase compared to the same period last year. Notably, the beauty segment emerged as a star performer, exhibiting growth of 7%. Within the beauty category, Fragrance stood out with a 24% growth rate. Overall, the beauty segment contributed to 18% of total sales.

The company added 7 new department stores in Q4, bringing the total for the fiscal year to 15, and reaching a cumulative count of 112 departmental stores by the end of FY24. Additionally, Shoppers Stop launched its largest premium beauty store, spanning 9,000 square feet, at Quest Mall in Kolkata.

Furthermore, the company opened 3 new beauty stores in Q4, contributing to a total of 16 beauty store openings for FY24, bringing the aggregate count to 87 by the end of the fiscal year. Moreover, Shoppers Stop expanded its footprint in the INTUNE segment, opening 12 new stores during the quarter, resulting in a total of 22 stores for FY24.

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Kavindra Mishra, managing director and CEO of Shoppers Stop Ltd, "During the quarter the sales grew by 9% and EBITDA at ₹199 crore. Our EBITDA was impacted by one-time investments in Beauty and a write-off of inventory aggregating to ₹14 crore during the quarter.

In this quarter, we opened 7 departments, 3 Beauty and 12 Intune stores. Our investments in opening new stores continue and we have opened 55 stores, including our “New Business” Intune wherein we opened 22 stores during FY24."

The results came after the close of the market hours. Shares of Shoppers Stop Ltd ended at ₹710, down by ₹1.45, or 0.20%, on the BSE.

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Source: CNBC TV 18