Consumers Cease Q2 internet loss at Rs 3.68 cr; gross sales up two-fold to Rs 642 cr, Retail Information, ET Retail

Shoppers Stop Q2 net loss at Rs 3.68 cr; sales up two-fold to Rs 642 crNew Delhi: Retail chain Consumers Cease Ltd on Wednesday reported narrowing of its consolidated internet loss to Rs 3.68 crore for the September quarter, helped by a comeback in gross sales. The corporate had posted a internet lack of Rs 97.70 crore within the July-September interval a yr in the past, Consumers Cease stated in a regulatory submitting.

Income from operations rose over two-fold to Rs 642.07 crore from Rs 296.98 crore within the corresponding quarter of the earlier fiscal.

Whole bills have been at Rs 714.25 crore, up 45.06 per cent from Rs 492.36 crore earlier.

Consumers Cease MD & CEO Venu Nair stated, “The demand postponement triggered by the second wave of the pandemic witnessed a robust comeback in Q2.”

“Whereas July was muted with a number of lockdowns and Maharashtra utterly closed, August and September witnessed a pointy restoration. Our gross sales greater than doubled and EBITDA quadrupled in opposition to final yr,” he famous.

Furthermore, the festive gross sales have been extraordinarily reassuring, he stated, including gross sales recovered greater than 100 per cent in East, adopted by North.

“Our efficiency has been excellent throughout all segments, with Omni, Personal and Magnificence outperforming. We now have witnessed a robust quantity progress of 59 per cent (general worth progress of 90 per cent), primarily led by attire,” he stated.

Through the July-September quarter, gross sales from omni-channel grew by 103 per cent.

“Omni Channel contribution sustained at 8 per cent, regardless of shops opening in Q2. This displays the robust belief amongst digitally savvy younger prospects with Consumers Cease.

“Our investments proceed to be larger In Omni, as we imagine it enhances availability, drive gross sales & visitors, and combine digital touchpoints,” he added.

Shares of Consumers Cease Ltd on Wednesday settled at Rs 280.55 on BSE, down 0.76 per cent from the earlier shut.

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