NEW DELHI, Oct 24:Shares of Shoppers Stop on Thursday dropped nearly 5 per cent after the retail chain firm reported a consolidated net loss of Rs 8.17 crore in the second quarter ended September.
The scrip of the company plunged 4.57 per cent to close at Rs 375.50 on the BSE.
On the NSE, it tumbled 4.68 per cent to close at Rs 376.
The firm reported a net loss of 8.17 crore in July-September as against a net profit of Rs 11.84 crore a year ago, Shoppers Stop said in a BSE filing.
Total income fell 0.85 per cent to Rs 884.50 crore during the period under review as against Rs 892.14 crore in the corresponding quarter of the previous fiscal.
Commenting on the results, Shoppers Stop MD and CEO Rajiv Suri said, “Whilst the quarter has been muted due to a subdued economy affecting our like-to-like (LTL) sales (-1 per cent), we have increased efficiencies keeping our LTL operating costs below that of the last year.” (PTI)
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