Non-GAAP sales reached ₹1,585 crore (~$182.9 million), reflecting a 7 per cent growth from ₹1,483 crore in the prior year. The gross margin improved by 90 basis points (bps) year-on-year (YoY) to 40.7 per cent (GAAP) and by 50 bps to 37.6 per cent (Non-GAAP), Shoppers Stop said in a press release.
EBITDA rose 20 per cent YoY to ₹262 crore (GAAP) and 21 per cent to ₹110 crore (non-GAAP). Profit Before Tax (PBT) increased by 37 per cent YoY to ₹68 crore (GAAP) and 18 per cent to ₹45 crore (non-GAAP). Profit After Tax (PAT) grew 37 per cent YoY to ₹54 crore (GAAP) and 11 per cent to ₹40 crore (non-GAAP).
Shoppers Stop has reported GAAP sales of ₹1,311 crore (~$151.3 million) in Q3 FY25, up 9 per cent YoY, with EBITDA rising 20 per cent to ₹262 crore.
PAT increased by 37 per cent to ₹54 crore (~$30.2 million).
Non-GAAP sales grew 7 per cent to ₹1,585 crore (~$182.9 million), with a gross margin of 40.7 per cent.
Nine-month GAAP sales rose 6 per cent YoY to ₹3,413 crore (~$393.7 million).
First Citizen members contributed 83 per cent to sales, with 69 per cent from repeat customers and 14 per cent from new members. Premium black card members accounted for 17 per cent of sales, marking a 28 per cent YoY growth, the highest since its launch.
In October 2024, new orders declined by 1.5 per cent from September, with the revised data confirming the initial provisional figures. Year on year, new orders in November 2024 were down 1.7 per cent, while October 2024 saw a 5.7 per cent increase compared to the same month in 2023.
9-month financial
For the nine months of FY25, GAAP sales rose 6 per cent YoY to ₹3,413 crore (~$393.7 million), while non-GAAP sales grew 4 per cent to ₹4,143 crore (~$478.2 million). The gross margin slightly declined by 40 bps YoY to 40.4 per cent (GAAP) but remained stable at 37.4 per cent (non-GAAP).
GAAP EBITDA was marginally lower by 1 per cent YoY at ₹564 crore, while non-GAAP EBITDA fell by 23 per cent to ₹145 crore. PBT decreased significantly by 93 per cent YoY to ₹5 crore (GAAP) and by 77 per cent to ₹16 crore (non-GAAP). PAT for the nine months stood at ₹71 crore (GAAP), reflecting a 52 per cent decline YoY, and ₹4 crore (non-GAAP), down by 77 per cent.
“We ended Q3 with a positive note and the growth trajectory of the business heading in the right direction, and have delivered healthy volume-led revenue growth of 9 per cent and LFL growth of 4 pe cent, despite higher inflation and a decline in consumer spending,” said Kavindra Mishra, managing director (MD) and chief-executive officer (CEO) of Shoppers Stop Ltd.
“We had taken number of initiatives during the quarter such as ‘India weds with Shoppers Stop’, ‘Gifts of Love’, ‘Winter Magic Campaign’ and ‘ShowStoppers’, ‘Singles Day’ in Beauty, etc.
“These initiatives led to an increase in premiumisation, and our premium categories contributed 64 per cent of our total revenue. We have improved every KPI’s during the quarter. Our strategic focus is to make Private Brands profitable. I am extremely pleased to say that private brands generated healthy margin growth, driven by lower markdown and obsolescence. Our flagship store at Inorbit Malad, Mumbai, has been fully renovated and is now operational, featuring premium product offerings and enhanced customer experiences,” added Mishra.
Fibre2Fashion News Desk (SG)
