Department Stores company Shoppers Stop Announced Q1FY23 Result : Sales soar 383% YoY to Rs. 1190 Cr, PBT of Rs. 32 Cr against a loss of Rs. 157 Cr in Q1FY22 The momentum continued from Mar22 as the industry witnessed the first disruption-free quarter, and the Company recorded a strong quarterly performance, despite End of Season Sale delayed by 10 days. Revenue surged by 383% YoY to Rs. 1190 Crores in Q1FY23 (+8% Vs FY20) Private Brands revenue grew by 387% YoY (+29% Vs FY20) Beauty Segment revenue up by 321% YoY (+28% Vs FY20) E-commerce sales continue to grow, by 29% YoY (+266% Vs FY20) The Average Selling Price (ASP) has improved by 15% YoY and the Average Transaction Value (ATV) by 7% YoY in Q1FY23 EBITDA for the quarter Rs.67 Crs vs Loss of Rs.116 Crs in Q1FY22. Our GAAP EBITDA for the quarter is Rs.168 Crs vs Rs.1 Crs in FY22 Profit before tax (PBT) Rs.32 crores in Q1FY23 vs loss of Rs.157 Crs in Q1FY21. Our GAAP Profit Before Tax of Rs.32 Crs vs loss of Rs.137 Crs in Q1FY22. Continue to remain debt free Opened six new stores during the quarter On boarded Bollywood actor, Sanya Malhotra as the brand ambassador for Private Brands Mr. Venu Nair, MD & CEO at Shoppers Stop, said, "The strong growth momentum, seen March 22, persisted through first quarter of FY23 and continuing in July. We recorded a strong quarterly performance, and believe that the growth will continue in the coming quarters due to easing of Covidrelated restrictions. This, coupled with the upcoming festive season, is likely to release a significant pent-up demand and further aid the Company's revenue growth. All our product categories and channels have witnessed a surge during the quarter. Consumer sentiments have improved with the economy reopening which has led to an increase in footfalls. Our digital sales base remained intact in spite of our robust offline performance. We expect good demand in tier-2 cities and beyond, with the rise in smartphone penetration, and the growing adoption of digital payment systems. We plan to launch new stores primarily in tier-2 and tier-3 cities while sustaining our investments in store renovations, during the year." Result PDF