Spencer's Retail shows mixed results Q3 FY2024

Spencer's Retail shows mixed results Q3 FY2024

In its third quarter ended December 31, 2023, Spencer's Retail showed mixed results compared to the previous quarter and the same period last year.

The company’s revenues grew by 14.41 per cent to Rs 660.26 crore during the year compared to Q2FY2024. On a Y-o-Y basis, the company’s revenues grew by 2.84 per cent in Q3 FY2023.

Spencer’s Retail’s net loss narrowed down by 26.99 per cent Q-o-Q and 17.09 per cent Y-o-Y, reaching Rs 51.20 crore. Its EPS improved by 26.96 per cent Q-o-Q and 17.06 per cent Y-o-Y to Rs 5.69.

Compared to the same period last year, Spencer’s Retail’s total income declined by 6.00 per cent to Rs 1819.48 crore during the first nine months of FY2024.

However, its net loss narrowed down by 24.33 per cent to Rs 185.46 crore. The company’s EPS also improved by 24.40 per cent, standing at Rs 20.60.

However, the company's overall income for the nine months of FY2024 remains lower than the previous year and it continue to operate at a net loss.

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