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Shopper's Stop Gross Total Retail turnover rises in Q3

30 Jan '07

3 min read

Shopper's Stop Limited, India's leading large format department store chain, has reported a 29% increase in Gross Total Retail turnover at 2628 mn for the third quarter ended December 31, 2006 as compared to Rs. 2040 mn for the corresponding quarter last year.

Operating profit (before interest, depreciation and tax) increased by 27% to Rs 250 mn from Rs. 196 mn in the corresponding quarter last year. Profit before tax was up by 30% to Rs. 230 mn from Rs. 177 mn in the corresponding quarter last year. Meanwhile, Net Profit rose by 16% to Rs. 141 mn for the quarter as compared to Rs. 121 mn posted in the corresponding quarter last year.

For the nine months ended December 31, 2006, Gross Total Retail turnover stood at Rs. 6639 mn, a rise of 31% over corresponding nine months. Operating profit (before interest, depreciation and tax) for nine months increased by 42 % to Rs 535 mn from Rs. 377 mn in the corresponding nine months period.

Net Profit rose by 44% to Rs. 285 mn as compared to Rs. 197 mn posted in the corresponding nine months. Earnings per share for nine month period was at Rs 8.26 as compared Rs 5.98 recorded in the first nine month of FY06.

Mr. B. S. Nagesh, Customer Care Associate & Managing Director of Shopper's Stop Ltd., said: “The third quarter has been a significant and strong one for us, contributing to almost 30% of the annual projected sales. This has been in line with our expectations for this quarter. Margin of 31.5% has seen a 1.2% increase for the nine month period, shrinkage has been maintained below 0.5% levels, which is lower than the international benchmark.”

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