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    Shoppers Stop plunges 9% on reporting loss of Rs 16 crore in Q4

    Synopsis

    Total income of the company in the fourth quarter of the previous financial year stood at Rs 734.73 crore as compared to Rs 704.70 crore in the corresponding quarter in FY 2020-21, reports said.

    Shoppers Stop plunges 9% on reporting loss of Rs 16 crore in Q4ETRetail
    NEW DELHI – Shares of Shoppers Stop plummeted 8.7 per cent in early trade on Friday after the retail chain reported a net consolidated loss of Rs 15.85 crore for the quarter ended March 31, 2022, as against the loss of Rs 23.71 crore in the corresponding quarter in the previous fiscal.

    The company’s share price dropped to a low of Rs 498.35 as against Rs 540.75 at the previous close on the BSE.

    Total income of the company in the fourth quarter of the previous financial year stood at Rs 734.73 crore as compared to Rs 704.70 crore in the corresponding quarter in FY 2020-21, reports said.

    The company’s Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) for the quarter stood at Rs 97 crore as against Rs 116 crore in the same period a year ago, registering a fall of 17 per cent year-on-year (YoY).

    During FY22, the firm’s EBITDA jumped 59 per cent YoY to Rs 434 crore as compared to Rs 272 crore in FY21, reports said.

    The company managed to reduce its loss after tax during Q4FY22 to Rs 17 crore as compared to a loss of Rs 37 crore in Q4FY21.

    The loss after tax for the financial year ended March 31, 2022, also declined by 65 per cent YoY to Rs 88 crore from Rs 252 crore in FY21, reports said.

    The company further stated that overall customer footfall increased by 56 per cent YoY during FY22, reports said, adding that the Average Selling Price (ASP) also gained 18 per cent YoY and the Average Transaction Value (ATV) improved by 15 per cent YoY.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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