Shoppers Stop Ltd., a retail chain, announced on Monday that its consolidated net profit for the fourth quarter ended 31st March 2024, increased by 62.55 per cent to Rs. 23.18 crore.
Shoppers Stop reported in a regulatory filing that the business had recorded a consolidated net profit of Rs. 14.26 crore during the same time last year. Compared to Rs. 923.90 crore in the same period of the previous fiscal year, the combined revenue from operations for the quarter under review was Rs. 1,046.34 crore.
Comparing the fourth quarter’s total expenses to the same period last year, they were Rs. 1,049.28 crore higher than Rs. 928.78 crore. The company reported that its net profit for the fiscal year that ended on 31st March 2024, was Rs. 77.25 crore, a decrease from Rs. 116.01 crore the year before.
According to the corporation, consolidated income from operations increased to Rs. 4,316.59 crore in FY ’24 from Rs. 4,022.13 crore in FY ’23. According to Kavindra Mishra, managing director and CEO of Shoppers Stop, the business “delivered consistent performance despite continued softness in demand”. He continued, “The company’s long-term objective is to increase the overall margins.”
