Shoppers Stop Q4 results: Reports Rs 127 crore loss

New Delhi: Retail chain Shoppers Stop on Monday reported a consolidated loss of Rs 127.22 crore for the fourth quarter ended on March 31, 2020, with coronavirus pandemic taking a toll on its operations.

The company had posted a net profit of Rs 6.47 crore in the January-March period of 2018-19.

Revenue from operations declined to Rs 724.38 crore during the period under review from Rs 812.65 crore in the same period of 2018-19, Shoppers Stop said in a regulatory filing.

For the 2019-20 fiscal, the company reported a consolidated net loss of Rs 142.02 crore as compared to net profit of Rs 64.97 crore in 2018-19.

Revenue from operations declined to Rs 3,463.88 crore during the period as against Rs 3,577.93 crore in 2018-19.

"This year and particularly this quarter have been unprecedented due to the impact of COVID-19," Shoppers Stop MD and CEO Rajiv Suri said.

The year started with an exceptional pace of expansion and growth but closed on a sombre note as the world faced a one-of- its-kind crisis in the outbreak of COVID-19, he added.

"The complete lockdown in March impacted the quarter performance as the full chain of 252 stores were shut down whilst all fixed costs remained in the books," Suri said.

The company added 11 department stores 22 beauty stores and five airport oytlets doors during this year, investing Rs 212 crore from its internal accruals to set us up for exponential growth in the coming years, he added.