Shopper's Stop retail turnover rises 38% for Q4FY07
02 May '07
3 min read
Shopper's Stop Limited, India's leading retail group has reported a 38% increase in Retail turnover at Rs. 2356 mn in the fourth quarter of fiscal ended March 31, 2007 as compared to Rs 1712 mn for the same period last year. Operating profit (EBIDTA) in Q4FY07 rose by 21 % to Rs 161.86 mn from Rs.134.19 mn in the corresponding quarter.
The Company re-estimated the useful life of certain classes of assets, resulting in higher depreciation charge by Rs 101.15 mn for Q4FY07.
For the year ended March 31, 2007, Retail Turnover stood at Rs. 8995 mn up by 32.7% as compared to the year end March 31, 2006. The net profit for the full year stood at Rs 262 mn as compared to Rs 271 mn in the year-ago period, consequent to the additional charge of depreciation of Rs 101 mn. Had it not been for this additional charge the Net profit would have been Rs 363 mn, effectively a growth of 34%.
The board has recommended 15% dividend for FY 2006-07.
The Board of Directors have approved the issue of instrument on a rights basis which may include but not limited to shares/ Partly Convertible Debentures/ Fully Convertible Debentures / warrants and / or combination thereof for upto an aggregate amount of about Rs.500 crores and has constituted and authorized a Committee of Directors of the Board to decide inter-alia the modalities of the proposed rights issue including but not limited to determining the price of instrument, the proportion and entitlement ratio, the timing and including record date of the issue.
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