Retail chain Shoppers Stop Ltd today reported 46.60 per cent decline in standalone net profit to Rs 8.1 crore for the fourth quarter ended March 31, 2014, due to higher expenses.
The company had posted a net profit of Rs 15.17 crore in the corresponding quarter of 2012-13.
Income from operations in the period under review moved up to Rs 727.9 crore, an increase of 18.10 per cent from Rs 616.31 crore in the same quarter of the previous fiscal, the company said in a BSE Sensex filing.
Overall March quarter expenses were at Rs 717.31 crore, an increase of 19.81 per cent from Rs 598.86 crore in the same quarter of the previous fiscal.
"Our focus remains on expansion in the department store category and achieving profitability in Hypercity. In the coming year, we aim to maintain a healthy like-to-like growth in the department store format," Shoppers Stop Ltd Customer Care Associate and Managing Director Govind Shrikhande said.
Shoppers Stop added 2 stores in this quarter taking the total store addition count to 13 in FY 2014.
Shoppers Stop scrip closed at Rs 357, down 1.18 per cent, from its previous close on the BSE.