Shoppers Stop's profit ascends

Shopper’s Stop, the retail arm of K Raheja group has recorded a net profit of Rs 19.21 crore in the December quarter against a loss of Rs 20.45 crore in the same quarter, last year. Gross turnover, during the period, rose by 15 per cent to Rs 427.40 crore. “Sales from our loyalty card holder segment increased by 74 per cent and gave a huge growth momentum. We also plan on opening three more stores by March, which will take the total number of stores to 31,” says Mr Govind Shrikhande, president & CEO of Shopper's Stop.