Home Retail Shopper’s Stop Ltd Q2 net up 44 per cent at Rs.17.4 crore

    Shopper’s Stop Ltd Q2 net up 44 per cent at Rs.17.4 crore

    By  
    SHARE

    Shopper’s Stop Ltd (SSL) has reported a 44 per cent increase in net profit, at Rs.17.4 crore, for the quarter ended September 30, 2010, as compared to Rs.12.1 crore in the same quarter last fiscal.

    The company has also reported a gross retail turnover of Rs.508.8 crore for the quarter ended September 30, 2010, registering a jump of 23 per cent from Rs.412.4 crore in Q2 FY10.

    Commenting on Q2 results, , customer care associate & managing director, Shopper’s Stop Ltd, said, “The surge in consumer confidence has given us an added impetus resulting in double-digit same store sales. On the other hand, our ‘First Citizen’ members’ contribution to topline has increased to 73 per cent. All these factors have accelerated our growth.”

    SSL continues to expand its presence across the country across various formats. In the quarter under review, the company added three new outlets – one each in Bhopal, Bangalore and Delhi – and a MAC store in Pune. SSL also opened a store at Bhopal. “The company will continue to open stores across the country in the near future,” said Shrikhande.

    For SSL, a key highlight of this quarter was the overwhelming success of its (QIP). Together with the QIP and the conversion of promoters warrants, the company raised Rs.222 crore.

    More than one lakh new members were added to the ‘First Citizen’ loyalty programme during this quarter, taking the total number of its ‘First Citizens’ to 18.11 lakh.

    – IndiaRetailing Bureau