Shoppers Stop's Q3 net rises marginally to Rs 17.34 crore

Leading retailer Shoppers Stop on Thursday reported a marginal improvement in net profit at Rs 17.34 crore for the quarter ended December 2013.

The company had posted a profit of Rs 17.09 crore in the corresponding period a year ago.

Shoppers Stop reported a gross retail turnover of Rs 787.5 crore for the period under review against Rs 677.7 crore in the corresponding period last year, up by 16 per cent, a company statement said here.

With 65 stores across 32 cities in India, Shoppers Stop continued is expansion plans.

In the December quarter, Shoppers Stop added four new stores - in Raipur, Hyderabad, Chennai and Jaipur international airport - among other stores.

"We have witnessed a healthy sales and EBIDTA growth of 16 per cent during the festive season quarter," managing director Govind Shrikhande said.

"Our focus remains on expansion in the department store."