InvestorQ : Did Shoppers Stop see such a sharp fall in profits due to the lockdown?
Rashi Mehra made post

Did Shoppers Stop see such a sharp fall in profits due to the lockdown?

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Archita Jajjoo answered.
4 months ago
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For the Jun-20 quarter, Shoppers Stop reported 94% lower net sales at just Rs.56 crore. The corresponding figure was Rs. 854 crore in Jun-19 quarter, so the fall as an outcome of the pandemic has been awfully sharp as malls have been shut across India.

Shoppers Stop reported a net loss of Rs.120 crore in the Jun-20 quarter. The company has a huge problem of excess debt on its books as a result of which even last year the company had reported virtual zero profits despite Rs.140 crore of EBITDA.

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