Max Hypermarket India, which operates Spar Hypermarkets, reported a 32 percent jump in its revenues for the financial year 2021-22 to Rs 818 crore compared to a year ago.
The company meanwhile has reported its net loss has gone up by 6 percent to Rs 132 crore for the year, compared to the fiscal year 2020-21. According to financial data accessed by business intelligence platform Tofler, Max Hypermarket’s total expenses for the year stood at Rs 949 crore.
The year 2021-22 has been challenging for most retailers amid a continued surge in Covid-19 cases in the country.
Max Hypermarket, owned by Dubai-based retail enterprise Landmark Group, operates franchisee stores of Amsterdam-based Spar in India. Currently, Max Hypermarket operates about two dozen Spar Hypermarkets across 9 cities including Bengaluru, Mangalore, Shimoga, Chennai, Coimbatore, Hyderabad, New Delhi, Gurugram, and Ghaziabad, according to the company’s website.
Spar International operates more than 12,500 stores in 44 countries across 4 continents. The chain started its journey with a single store in 1932.