Shoppers Stop Ltd's Q3FY19 standalone net profit rises 171.14% yoy to Rs44cr : Beats Estimates

The company’s standalone revenue stood at Rs999cr, up 3.7% yoy and 15.6% qoq.

Jan 29, 2019 08:01 IST India Infoline Research Team

Shoppers Stop Ltd Q3FY19

Standalone Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 999.15 3.7
EBITDA 97.19 22.5
EBITDA Margin (%) 9.7 149
Net Profit (adjusted) 44.32 171.1
***EBITDA margin change is bps

Shoppers Stop Ltd’s revenue grew by 3.7% yoy and 15.6% qoq to Rs999cr. EBITDA came in at Rs97cr, up 22.5% yoy and 79.8% qoq. EBITDA margin expanded by 149bps yoy and 348bps qoq to 9.73%. Company’s adjusted Net profit stood at Rs44cr, up 171.1% yoy and 236% qoq. Net profit came above estimate of Rs28cr. 

• Like to Like sales of the company grew 8.9% yoy.
• The company added 3 and 2 stores of M.A.C and Bobby Brown taking the total count of beauty stores to to 57 and 14 respectively as on December 31, 2018.
• Company did not add any Shoppers Stop store during the quarter. The count as on December 31, 2018 stood at 83.
• Cost of goods sold stood at 58.8% of sales vs. 61.4% yoy aiding in EBITDA growth.
• Finance cost declined by 67.3%yoy to Rs3cr leading to profitability expansion.
• Driving ahead its successful Loyalty program, SSL continued to expand its membership base adding ~2 lakhs new members to the First Citizen Loyalty Programme in Q3FY19. The program now has a total First Citizen base of 59lacs members.

Technical View:

Shoppers Stop Ltd ended at Rs. 517.40, up by 4 points or 0.78% from its previous closing of Rs. 513.40 on the BSE.
The scrip opened at Rs. 509.70 and touched a high and low of Rs. 519.65 and Rs. 508.25 respectively. A total of 12,670 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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