Shoppers Stop - Aditya Birla Money

Shoppers Stop Ltd (SSL) posted healthy 20.6% YoY topline growth led by revival in SSS growth of 12.5%, however, PAT declined by 11% YoY to Rs 170.9 mn

SSL standalone posted 20.6% YoY growth in topline to Rs 6971.2 mn led by revival in SSS growth of 12.5% . However, operating expenses increased by 25% YoY to Rs 1987.4 mn.

EBITDA increased by 10% YoY to Rs 452.6 mn and margin declined by 60 bps YoY to 6.6%. Interest cost and depreciation increased by 84% YoY and 28% YoY to Rs 53.5 mn and Rs 120.1 mn respectively. Overall, PAT declined by 11% YoY to Rs 170.9 mn. We believe, festival season has helped in revival in consumer sentiment leading to healthy ramp-up in sales. However, high operating cost continues to impact the profitability.

Source : Equity Bulls

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