Shoppers Stop clocks 62% y-o-y growth in Q2FY23 sales at Rs1,270 crore; stock slips ~3%

20 Oct 2022 , 11:53 AM

Shoppers Stop Limited declared their second quarter results for the quarter ended September 30, 2022, for the fiscal year 2022-23.

The company has logged sales of Rs1,270 crore in Q2FY23, up by 62% yoy against Rs785 crore in Q2FY22.

Company reported an exceptional jump of 6762% in its EBITDA in Q2FY23 at Rs75 crore against Rs1 crore in Q2FY22.

During the quarter, the company managed to cover up losses to give a PAT of Rs25 crore against a loss of Rs43 crore in the previous corresponding quarter.

Company also informed that it has forayed into distributing International Beauty Brands with exclusive rights in India. This will enable the company to bring newer brands in the Country, further enhancing its strong presence in the Beauty segment.

The company also highlighted that its store expansion is on track and it plans to open 12-15 stores during the year, with 6 stores to be opened in October and November.

At around 11.58 AM, Shoppers Stop was trading at Rs781.10 down by 3.07% from its previous closing of Rs805.85 on the BSE. The scrip opened at Rs803.65 and touched intraday high and low of Rs803.65 and Rs735 respectively.

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