Retail chain Shopper’s Stop reported consolidated net profit of Rs7.71 crore for the fourth quarter ended 31 March 2011.
The firm, which runs specialty stores like ‘Mothercare’, ‘Crossword’ and large format outlets like ‘HyperCity’, had reported a consolidated net profit of Rs12.57 crore in the same quarter in the previous fiscal.
Shoppers Stop said the results were not comparable on account of termination of the franchisee agreement with Crossword Bookstores (CBL), its wholly-owned subsidiary.
“The operations of ‘Crossword’ have been handed over to CBL with effect from 1 October 2010 at book values. (Increase)/decrease in inventories includes transfer of inventory to CBL aggregating Rs2,325.06 lakh as on 1 October 2010,” the company said in a statement.
The total consolidated income for the period under review was Rs620.94 crore, while the same stood at Rs388.84 crore in the corresponding period a year ago.
For the fiscal ended 31 March 2011, the company’s consolidated net profit stood at Rs43.19 crore. It had posted a net profit of Rs35.88 crore in the previous fiscal.
During the period, the firm had a total consolidated income of Rs2,234.90 crore, while it had Rs1,452.05 crore in the year ago period.
“We have witnessed a strong and stable environment over the past year with strong growth in like-to-like sales of 17% for the year,” Shoppers Stop customer care associate and managing director Govind Shrikhande said.
On a standalone basis, the company’s net profit for the quarter ended 31 March, was Rs19.92 crore as against Rs16.43 crore in the same period a year ago.
“We are expanding steadily in metros as well as tier II cities, which is witnessing consumption boom and has given us access to growing number of customers,” he said.
In the early afternoon, shares of Shopper’s Stop were trading 1.87% down at Rs343.05 on the Bombay Stock Exchange.
Tata Nano sales cross 10,000 per month mark, with a new high in April
Auto major Tata Motors reported a 13% jump in total sales in April to 64,383 units from 57,199 units in the same month last year, riding on good numbers from small car Nano, which crossed the 10,000-mark for the first time.
In April, the homegrown firm registered a 1.24% increase in passenger vehicle sales in the domestic market to 23,387 units from 23,099 units in the same period last year, the company said in a statement.
During the month, small car Nano’s sales soared by 184% to 10,012 units during April, it said.
The ‘Indica’ range reported sales of 4,250 units, down 53%. The ‘Indigo’ family, with sales of 5,282 units, witnessed a dip of 27% vis-a-vis the same month last year. The ‘Sumo’, ‘Safari’ and ‘Aria’ models accounted for sales of 3,843 units, up 15% compared to April last year.
In the commercial vehicles segment, Tata Motors recorded a 19% jump in domestic sales in April to 36,738 units.
Light commercial vehicles sales during the month stood at 22,802 units, up 28%, while medium and heavy commercial vehicle sales stood at 13,936 units, a jump of 6% compared to April, 2010.
Tata Motors’ total exports in April jumped by 36% to 4,258 units from 3,137 units in the same month last year.
In the early afternoon, shares of Tata Motors were trading 0.39% down at Rs1,224.25 on the Bombay Stock Exchange.
The country’s second largest two-wheeler maker Bajaj Auto reported a 16.71% jump in its motorcycle sales for April to 3,22,235 units
The country's second largest two-wheeler maker Bajaj Auto reported a 16.71% jump in its motorcycle sales for April to 3,22,235 units.
The company sold 2,76,095 units in the corresponding month last year, Bajaj Auto Ltd (BAL) said in a statement.
BAL recorded its highest ever exports last month at 1,58,422 units, compared to 1,13,911 units in April, 2010, a growth of 39.08%.
The company also witnessed its best-ever sales figures for three-wheelers last month, at 45,074 units, as against 37,350 units in the same month last year, translating into a jump of 20.68%.
Total vehicle sales of the company stood at 3,67,309 units last month compared to 3,13,472 units in the same period a year ago, a growth of 17.17%, the statement said.
In the early afternoon, shares of Bajaj Auto were trading 2% down at Rs1,433.50 on the Bombay Stock Exchange.