Shoppers Stop’s Q3 net profit dips nearly 14 per cent

Shoppers Stop reported a decline of 14 per cent in its standalone net profit to Rs 16.34 crore for the third quarter ended December 31. It has also finalised exiting TimeZone Entertainment the gaming business, which will thereby change the balance sheet for the year FY18-19. The company posted a net profit of Rs 19 crore in July-September quarter a year ago, Shoppers Stop said in a BSE filing.

Its total income stood at Rs 966.58 crore during the quarter under review, down 5.23 per cent as against Rs 1,019.93 crore in the year-ago period. Shoppers Stop total expenses stood at Rs 923.02 crore, down 6.49 per cent, as against Rs 987.11 crore in the previous fiscal. Its tie-up with Amazon will start showing traction from Q4 of FY17-18, says Shoppers Stop Customer Care Associate and MD Govind Shrikhande. Shares of Shoppers Stop today settled at Rs 516.45 on BSE, up 0.26 per cent from previous close.