SS registers jump of 194 per cent in net profit

    SS registers jump of 194 per cent in net profit

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    Shopper’s Stop Ltd, India’s prominent retail group (operator of large format department stores, home stores, specialty stores such as , , MAC, and hypermarkets) has reported gross retail turnover of Rs.42,740 lakhs for the quarter ended December 31st 2009 as compared to Rs.37,316 lakhs in Q3 FY ’09; registering an increase of 15 per cent.

    Net Profit for the quarter stood at Rs.1,921 lakhs against a loss of Rs.2,046 lakhs for the same period last year; a jump of 194 per cent when compared to the same period last year. For the nine months period, Gross Retail turnover stood at Rs.114,799 lakhs compared to Rs,105,008 lakhs for the same period last year; up nine per cent while Net Profit was at Rs.3,380 lakhs against loss of Rs.4,679 lakhs; an increase of 172 per cent.

    The company added one store each of , Crossword, MAC, and Clinique.

    During the quarter, Shoppers Stop also saw an increment in its First Citizen club membership, adding more than 76,000 members to its Loyalty Programme taking the total to 15.27 lakh.

    Shopper’s Stop also announced its plans to raise approximately Rs. 250 crores through issue of warrants to Promoters on preferential basis and QIP issue to fund its expansion plans.

    — IndiaRetailing Bureau