Shoppers Stop Ltd on Friday reported widening of its consolidated net loss to Rs 25.11 crore for the third quarter ended December 31, 2020. The firm had posted a net loss of Rs 6.51 crore in the (*25*)-December quarter a yr in the past.
Its whole earnings declined 27.2 per cent to Rs 746.45 crore through the interval below overview as in opposition to Rs 1,025.53 crore in the corresponding quarter of the earlier fiscal, Shoppers Stop mentioned in a regulatory submitting.
Shoppers Stop’s whole bills stood at Rs 778.78 crore through the quarter as in opposition to Rs 963.90 crore a yr in the past, down 19.2 per cent.
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Shoppers Stop MD and CEO Venu Nair mentioned, “Business restoration through the pageant interval has been encouraging. The festive interval helped footfall into shops and in addition generated greater digital gross sales.”
Its digital initiatives akin to white-glove providers (video-assisted initiative), yellow messenger providers (chat enabled) and appointment providers (via web site and app) have engaged clients to a brand new stage and contributed to our progress in the third quarter, he added.
Share of Shoppers Stop on Friday settled at Rs 206.75 on the BSE, down 2.75 per cent from the earlier shut.
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