Shoppers Stop Q1 results: Net loss narrowed to Rs. 120.25 crores for FY21

Shoppers Stop Q1 results: Net loss narrowed to Rs. 120.25 crores for FY21

Shoppers Stop Q1 results: Net loss narrowed to Rs. 120.25 crores for FY21

Shoppers Stop: It is one of the largest department store chain in India located in Mumbai. The company works under K. Raheja Corporation.  The company has almost 86 stores across 40 cities in India. It provides services like clothing, accessories, handbags, shoes, fragrances, cosmetics, health, and decor products. The present chairman of the company is B.S. Nagesh.

Meanwhile, on Friday, August 14th, the company reported its Q1 results for the Financial Year 2020-21. The company’s standalone net loss narrowed to Rs. 120.25 crores in this quarter ended on June 30th. The company also posted its consolidated net loss of Rs. 0.10 crores in the same quarter last fiscal year. 

Besides, the company’s total net sales during this quarter declined by 93.50% to Rs. 55.55 crores. While the company also reported its total sales of Rs. 854.02 crores in the same quarter last financial year. 

On the other side, the companies EBITDA for this quarter ended on June 30th decreased by 99.74% to Rs. 0.36 crores as against Rs. 140.81 crores in the same quarter last financial year.

However, the shares of Shoppers Stop Limited reported a bearish trend in the stock market on Friday. The company lost 3.50 points with a 2.00% decrease and reached 171.50 INR. While in BSE, the company lost 3.45 points with a 1.97% decrease and reached 171.60 INR.

Stock Market August 14th:

On Friday, both Sensex and Nifty continues its bearish trend in the stock market from the last two sessions. The Sensex is trading below 37,900 levels and Nifty is trading below 11,200 levels in the stock market. The Sensex lost 433.15 points with a 1.13% decrease and reached a 37,877.34 level. While Nifty lost 122.05 points with a 1.08% decrease and reached 11,178.40 level.

On the other side, the number of coronavirus cases in India reached 25,89,682 as of Sunday, August 16th, and deaths reached 49,980.

In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Friday. It lost 84.46 points with a 0.61% decrease and reached a 13,855.18 level. The S&P BSE Midcap lost 149.17 points with a 1.02% decrease and reached a 14,433.58 level. While Nifty Bank lost 516.95 points with a 2.33% decrease and reached 21,679.40 level.

Top Gainers on August 14th: JSW Steel, Coal India, Sun Pharma, Cipla, and NTPC are the top gainers in today’s stock market.

Top Losers on August 14th: Eicher Motors, Tata Motors, Axis Bank, M&M, and SBI are the top losers in today’s stock market. 

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