Profit After Tax at Rs 74 mn up by 74% for the quarter and 271 mn for the year
Mumbai, April 29, 2006: Shopper's Stop Limited, India's leading large format department store chain, has reported a 36% increase in Retail turnover at Rs. 1761 mn in the fourth quarter of fiscal ended March 31, 2006 as compared to Rs 1297 mn for the same period last year. Net profit in Q4FY06 rose by 74 % to Rs 74 mn from Rs. 42 mn in the corresponding quarter. The board recommended a dividend of 15 % (Rs 1.50 per share)
For the year ended March 31, 2006, Retail Turnover stood at Rs. 6775 mn up by 34% as compared to the year end March 31, 2005. The net profit for the full year surged by 42 % to Rs 271 mn as compared to Rs 190 mn in same period last year.
Profit before tax was up by 137 % to Rs. 111 mn from Rs. 47 mn in the corresponding quarter last year. Meanwhile, Net Profit rose by 74 % to Rs. 74 mn for the quarter as compared to Rs. 42 mn posted in the corresponding quarter last year.
Operating profit (before interest, depreciation and tax) for the full-year of FY06 soared by 68 % to Rs 566 mn from Rs. 336 mn in the same period last year. Earnings per share for the year ended March 31, 2006 works out to Rs 8.12 as against Rs 6.94 in the same period of last year.
Mr. B. S. Nagesh, Customer Care Associate, Managing Director of Shopper's Stop Ltd., said "We are very happy with the results which have surpassed our expectations. We have seen not only a very healthy increase in the topline but all round operational efficiencies have gone up. Margin % has seen an 1.9% increase, shrinkage has been maintained below 0.45% levels, which is lower than the international benchmark. Our Customer Care Associates have increased employee productivity by 27 % and I would like to thank them for the robust growth that we have delivered"
During FY06, the company added 197853 sq ft by opening 4 Shoppers stop stores including 36873 Sq. ft of Home Stop, Crossword during the same period opened 9 stores. With that as on March 31, 2006 total number of Shoppers stop stores, Home Stop stores and Crossword stores were 19, 1 and 31 respectively in 10 cities across India.
Shopper's Stop Ltd., also entered the Food and Beverages business by opening its first cafe BRIO in Bangalore. The second cafe was launched recently at the Juhu store of Shoppers' Stop.
Mothercare was also recently launched by the company in four of its stores – Juhu, Bandra, Bangalore and Hyderabad. Shopper's Stop Ltd., has acquired exclusive master franchise rights for India for this brand.
During the quarter the company won the "Most Admired Fashion Shopping Destination of the Year" award at the Images Fashion Forum in Jan'06. It was also awarded the Certificate of Merit for "Fair Business Practices" by the Council of Fair Business Practices.
About Shopper's Stop Ltd
Shopper's Stop Ltd., a pioneer in setting up nation-wide chain of large format department stores in India, has been promoted by K Raheja Corp. Group (Chandru L. Raheja Group), one of the leading groups in the business of real estate development and hotels in the country. The retail chain has 20 stores in 10 cities across the country occupying an aggregate area of 950,000 sq. ft.
Shoppers' Stop, retails a range of branded and own label apparel, footwear, perfumes, cosmetics, jewellery, leather products and accessories, home products, books, music and toys. All these are well complemented by cafe, food, entertainment, personal care and various beauty related services
Its loyalty programme called First Citizen currently has over 632,000 members. First Citizen members accounted for more than 62% of the sales in year ended March 31, 2006.
FOR MORE INFORMATION PLEASE CONTACT
Sheetal Choksi
Shoppers Stop Limited
Tel: + 91-22-28447254
sheetalc@shoppersstop.co.in
Preeti Binoy
Adfactors PR
Tel: +91-22-22813565
Preeti.binoy@adfactorspr.com
Source: AdFactors
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