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    Spencer's Retail Q3 Results: Loss widens to Rs 61.75 crore

    Synopsis

    Total expenses were higher at Rs 703.89 crore as compared to Rs 669.49 crore in the same quarter a year ago.Spencer's Retail Sector Head Shashwat Goenka said at a consolidated level the company's business has grown led by significant growth in the non-food business and also from the food business with sustained omni-channel presence."Continuous investments in making our digital shopping experience seamless for our consumers have helped us sustain the growth in the omni channel business," he added.

    Spencer's Retail Q3 Results: Loss widens to Rs 61.75 crore
    RP Sanjiv Goenka Group firm Spencer's Retail Ltd on Tuesday reported widening of consolidated loss after tax at Rs 61.75 crore for December quarter 2022-23, impacted by higher expenses. The company had posted a loss after tax of Rs 26.77 crore for the same quarter last fiscal year, Spencer's Retail said in a regulatory filing.

    Revenue from operations in the quarter under review stood at Rs 638.91 crore as compared to Rs 624.07 crore in the year-ago period, it added.

    Total expenses were higher at Rs 703.89 crore as compared to Rs 669.49 crore in the same quarter a year ago.

    Spencer's Retail Sector Head Shashwat Goenka said at a consolidated level the company's business has grown led by significant growth in the non-food business and also from the food business with sustained omni-channel presence.

    "Continuous investments in making our digital shopping experience seamless for our consumers have helped us sustain the growth in the omni channel business," he added.

    Spencer's Retail has also recently ventured into a new format -- 'Spencer's Value Market' -- and there are currently 10 stores operational under this format, Goenka said adding, the initial consumer response has been very encouraging.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    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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