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Shoppers Stop posts Rs 3.78 crore profit

The company posted a 13% jump in its turnover at Rs 1263.40 crore

BS Reporter Mumbai

Raheja owned Shoppers Stop posted a net profit of Rs 3.78 crore in the second quarter of current financial year as compared to a loss of Rs 3.18 crore in the Q2 of FY 2014 mainly due to growth in the profits of its department chain format.

The company posted a 13% jump in its turnover at Rs 1263.40 crore in the Q2 of FY 2015 as compared to Rs 1115.61 crore it posted in the corresponding quarter of previous quarter.

At the standalone level, which includes only department stores, the company's net went up 60% at Rs 15.9 crore in Q2 of FY 2015 as compared to Rs 9.91 crore in Q2 of FY 2014.

 

The company recorded a like to like growth of 11% across its department stores.The company's managing director Govind Shrikhande said they are expecting like to like growth of 7-8% in the current quarter.

Its hypermarket chain Hypercity posted a net loss of Rs 16.36 crore in Q2 of Fy 2015 as compared to loss of Rs 25.78 crore in Q2 of Fy 2014. However, the chain achieved break even at the Ebitda level at Rs 20 lakh in Q2 of FY 2015 compared to Rs 12.59 crore loss it incurred at ebitda level in Q2 of FY 2014.

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First Published: Nov 05 2014 | 4:50 PM IST

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