Shoppers Stop Limited Q3FY23 Earnings Summary

Established in 1991, Shoppers Stop Ltd. is a major retailer of apparel and cosmetics. Throughout the nation, it owns and manages a number of department stores, home concept stores, and specialised beauty shops.

Financial Results:

Shoppers Stop reported an 18.86% fall in its combined net profit for the third quarter of FY23, coming in at ₹ 62.74 crores.

According to a regulatory filing, the business reported a consolidated net profit of ₹ 77.32 crores during the same time the prior fiscal year.

Richer consumers have largely ignored the inflation squeeze in order to spend lavishly on clothing and accessories as they resumed their pre-pandemic lifestyles of going to work and attending customarily extravagant Indian weddings, where families spend enormous sums on ceremonies that last for days and involve hundreds of guests.