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Shoppers Stop fiscal Q3 profit falls YOY

Shoppers Stop Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 151.6 million rupees, a decline from 158.7 million rupees in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 1.2% from 1.4% in the year-earlier period.

Total revenue grew 9.7% year over year to 12.15 billion rupees from 11.07 billion rupees, and total operating expenses grew 7.9% from the prior-year period to 11.72 billion rupees from 10.86 billion rupees.

Reported net income came to 140.5 million rupees, compared with 50.5 million rupees in the prior-year period.

As of Jan. 30, US$1 was equivalent to 62.01 Indian rupees.