Shoppers Stop records 95.73% fall in June quarter profit

NEW DELHI: Retail company Shoppers Stop has posted 95.73% slip in June quarter net profit to Rs 50 lakh as compared to net profit worth Rs 11.7 crore during the corresponding period last year.

The gross retail revenue in the June quarter rose by 15.25% to Rs 516.9 crore as compared to Rs 448.5 crore in the year-ago period.

Shoppers Stop MD Govind Shrikhande said, “The overall economic outlook has been soft. However, Shoppers Stop Ltd continues with its growth trajectory by adding new stores across formats.”