Shoppers Stop Ltd., the prominent department store chain, has reported a notable 37% increase in its consolidated net profit, reaching Rs 49 crore for the third quarter ending 31 December 2024. This marks an improvement from Rs 35 crore in the same period last year.
The company’s revenue for the quarter amounted to Rs 1,311 crore, up from Rs 1,207 crore in the previous year’s third quarter. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw a rise, standing at Rs 262 crore compared to Rs 219 crore in Q3 FY24.
Kavindra Mishra, Managing Director and CEO of Shoppers Stop, expressed optimism about the results, noting, “We are pleased with our performance this quarter. Despite challenges like inflation and a dip in consumer spending, we achieved a solid 9% growth in volume-led revenue and 4% like-for-like (LFL) growth.”
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Mishra highlighted that premium categories were a significant contributor, accounting for 64% of total revenue. The company’s strategic efforts are focused on boosting the profitability of its private brands, which generated Rs 186 crore in sales, making up 12% of total sales and 18% of apparel sales.
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The beauty segment performed well with Rs 268 crore in sales, reflecting a 3% year-on-year increase, driven by a strong 14% growth in fragrances. Additionally, Global SS Beauty Brands Ltd. saw a remarkable 26% growth, recording Rs 78 crore in sales for the quarter.
