Spencer's Retail Q4 loss narrows to Rs 68 cr
on Thursday reported narrowing of its consolidated net loss to Rs 68.40 crore for March
quarter
FY25. The company had incurred a loss of Rs 80.69 crore in the January-March period a year ago, according to a regulatory filing from Spencer's Retail, a RP
Sanjiv Goenka
firm.
However,
revenue
from operations was down to Rs 411.87 crore in March quarter from Rs 546.79 crore a year ago. Total expenses were lower by 22.2 per cent to Rs 491.60 crore in the quarter. Total income, which includes other income, fell 23.22 per cent to Rs 423.13 crore.
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In FY25, Spencer's Retail narrowed its net loss to Rs 246.36 crore from Rs 266.15 crore a year ago. Total income was at Rs 2,098.72 crore as against Rs 2,370.62 crore earlier.
There was a drop in topline due to closure of 47 stores of Spencer's in Q2, the company said in its investor presentation.
"Spencer's delivered a strong operational performance for FY25 on the back of the strategic decisions and actions taken in H1 to focus on key geographies and optimize the costs in line with the resulting scale.
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"The results of these actions flowed through in H2 with all key operational metrics improving and yielding a significant (4X) improvement in
EBITDA
for FY 25," Chairman Shashwat Goenka said.
This puts the company in a good shape to drive growth across Natures Basket & Spencer's, both in the offline and online verticals, he added.
Spencer's, which started its quick delivery proposition JIFFY in Kolkata in January has witnessed good traction with strong growth in both orders and user base.
"We are taking this to a few other cities in UP and West Bengal in the current fiscal," he said.
The total store count along with Natures Basket is 89 across India.
Shares
of Spencer's Retail on Thursday settled at Rs 65.51 apiece on BSE, down 0.02 per cent from the previous close.
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