{"id":1180,"date":"2020-06-16T07:24:17","date_gmt":"2020-06-16T07:24:17","guid":{"rendered":"https:\/\/bengalnewstimes.com\/shoppers-stop-plunges-4-on-weak-q4-result-logs-loss-of-rs127-22cr\/"},"modified":"2020-06-16T07:24:17","modified_gmt":"2020-06-16T07:24:17","slug":"shoppers-stop-plunges-4-on-weak-q4-result-logs-loss-of-rs127-22cr","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=1180","title":{"rendered":"Shoppers Stop plunges 4% on weak Q4 result; Logs loss of Rs127.22cr"},"content":{"rendered":"

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\n\tShoppers Stop<\/a> stock slumped by 4% on Sensex, after the company posted a consolidated net loss of Rs127.22cr in March 2020 (Q4FY20) quarter as against a net profit of Rs6.47cr a year ago same period. Consolidated revenue also dropped to Rs724.38cr in the quarter from Rs812.65cr of Q4FY19.<\/p>\n

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.<\/p>\n

Rajiv Suri, Customer Care Associate, Managing Director & Chief Executive Officer, Shoppers Stop Ltd. said, \u201cThis 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.<\/p>\n

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.”<\/p>\n

In FY20, the company posted a net loss of Rs142.02cr against a profit of Rs64.97cr in FY19.<\/p>\n

While revenue slid to Rs3,463.88cr in FY20 versus Rs3,577.93cr in FY19.\u00a0<\/p>\n<\/div>\n

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