At around 12.40 pm, the stock was performing at Rs181.05 per piece down by 3.54% on Sensex. The stock has touched an intraday low of Rs180 per piece on the index.
Rajiv Suri, Customer Care Associate, Managing Director & Chief Executive Officer, Shoppers Stop Ltd. said, “This year and particularly this quarter have been unprecedented due to the impact of COVID-19. 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. 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 further said, “We added 11 department stores 22 beauty stores and 5 Airport doors during this year, investing Rs.212 Crs. from our internal accruals to set us up for exponential growth in the coming years.”
In FY20, the company posted a net loss of Rs142.02cr against a profit of Rs64.97cr in FY19.
While revenue slid to Rs3,463.88cr in FY20 versus Rs3,577.93cr in FY19.
