Retail chain Shoppers Stop reported a 69.13% year-on-year decline in consolidated net profit to Rs 16.12 crore (US $ 1.76 million) for the December quarter of FY ’26, citing the impact of a shift in the festive calendar and uneven consumption trends.
Revenue from operations rose marginally by 2.63% to Rs 1,415.82 crore (US $ 154 million) during the quarter, compared with Rs 1,379.47 crore (US $ 151 million) a year earlier.
In its earnings statement, the company said overall sales for the quarter were flat, affected by festive calendar shifts, uneven discretionary demand and elevated pollution levels in northern India. Despite these challenges, Shoppers Stop continued to strengthen its premium portfolio, which delivered steady like-for-like growth and increased its share of total sales.
The company said premium brands accounted for 69% of total sales during the quarter, recording year-on-year growth of 6%. In contrast, core business sales stood at Rs 1,516 crore (US $ 165 million) and remained flat compared with the same period last year.
Total expenses for the December quarter of FY ’26 increased by 5.5% year on year to Rs 1,402.39 crore (US $ 153 million). Total income, including other income, rose 2.7% to Rs 1,439.77 crore (US $ 157 million).
Managing Director and Chief Executive Officer Kavindra Mishra stated that the third quarter was impacted by external factors such as festive calendar shifts and uneven consumption trends, which weighed on overall sales. He added that the company continued to make steady progress on its strategic priorities despite the challenging environment.
During the third quarter of FY ’26, Shoppers Stop expanded its retail footprint by opening three department stores, three INTUNE stores and one HomeStop store.
