Shoppers Stop shares settle over 6 pc lower

New Delhi, Jan 21 (PTI) Shares of Shoppers Stop plunged more than 6 per cent more on the bourses on Wednesday after the retail chain reported a decline of 69.13 per cent in consolidated profit to Rs 16.12 crore in the December quarter.

The scrip of the company declined 6.43 per cent to close at Rs 341 apiece on the NSE.

At the BSE, Shoppers Stop shares slumped 6.14 per cent to settle at Rs 341.90.

The 30-share BSE Sensex declined 270.84 points, or 0.33 per cent, to close at 81,909.63. The broader NSE Nifty fell 75 points, or 0.30 per cent, to settle at 25,157.50.

On Tuesday, Raheja family-promoted Shoppers Stop reported a decline of 69.13 per cent in consolidated net profit at Rs 16.12 crore in the December quarter, citing factors such as a shift

in the festival period and uneven consumption trends.

The company posted a net profit of Rs 52.23 crore in the October-December period a year ago, according to a regulatory filing by the retail firm.

Its revenue from operations was up 2.63 per cent to Rs 1,415.82 crore in the December quarter. It was at Rs 1,379.47 crore a year ago, it said. PTI HG TRB