Today, Shopper Stop has rallied 6.25 per cent to Rs 575.55 after the consolidated net profit of Rs 22.83 crore in the first quarter of the current financial year compared to the net loss of last year of Rs 104.89 crore.

The net sales had surged 362.1 per cent to Rs 948.44 crore in the first quarter from Rs 205.23 crore.

The company said that the momentum continued from March 2022 as the industry witnessed the first disruption-free quarter.

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The company’s pre-tax profit stood at Rs 32.37 crore in Q1FY23 as against a pre-tax loss of Rs 139.45 crore in the corresponding quarter previous year. Total expenses spiked 125.36 per cent to Rs 921.63 crore in Q1FY23 over Q1FY22.

The company’s Private Brands revenue grew 387 per cent year on year (YoY), beauty segment revenue surged by 321% YoY and e-commerce sales continued to grow, by 29% YoY.

The Average Selling Price (ASP) has improved by 15% YoY and the Average Transaction Value (ATV) by 7% YoY in Q1FY23. GAAP EBITDA for the quarter stood at Rs 168 crore compared to Rs 1 crore in Q1FY22. The company reported a GAAP gross margin of Rs 397 crore in Q1FY23, steeply higher than the Rs 78 crore recorded in Q1FY22.