India’s chain of retail stores headquartered in Kolkata, Spencer’s Retail Limited on Thursday posted a consolidated net loss of Rs. 45.05 crore for the second quarter ended 30 September 2020.
On the other hand, the RP-Sanjiv Goenka Group arm reported a net loss of Rs. 39.56 crore in the corresponding period last year.
The company’s revenue from operations was Rs. 616.65 crore in the quarter, while it stood at Rs. 699.48 crore during the last fiscal.
“As the country is gradually reopening, we are witnessing a revival of business and increase in consumer demand,” said Shashwat Goenka, Sector Head – Retail, Spencer’s Retail, adding, “We’ve had sequential monthly sales growth.”
India’s multi-format retailer providing a wide range of quality products across categories including apparel and fashion, Spencer’s Retail’s share of non-food sale has seen a significant improvement of late and has reached 70 per cent of pre-pandemic levels, Shashwat mentioned.
Spencer’s Retail has around 190 multi-format stores in more than 42 cities in India.