The company’s revenue from operations registered a 20.95 per cent decline on a year-on-year (YoY) basis
Marking an improvement in its performance, Spencer’s Retail has narrowed its net loss from Rs 51.20 crore in the third quarter of financial year 2024 (Q3FY24) to Rs 47.34 crore in the recently concluded quarter (Q3FY25), according to the company’s financial results.
In its unaudited consolidated financial results for Q3FY25, the company stated that its revenue from operations registered a 20.95 per cent decline on a year-on-year (YoY) basis as it dipped to Rs 516.97 crore in Q3FY25 from Rs 654.01crore in Q3FY24.
The total expenses of the company declined from Rs 711.54 crore in Q3FY24 to Rs 567.44. crore in the recently concluded quarter. The earnings before interest, tax, depreciation and amortisation (EBITDA) for the company stood at Rs 15 crore.
In a regulatory filing, the company informed that it opened two stores during the recent quarter for Natures Basket with a trading area of 14,000 square feet. “Despite a soft festive trading environment wherein LFL sales growth was flat, Spencer’s delivered a very strong operational performance on the back of good GM per cent delivery (19.7 per cent), strong control on all operational cost lines resulting in a milestone EBITDA (pre-INDAS) positive achievement,” stated Shashwat Goenka, the Chairman of the company.
As far as the standalone performance is concerned, Spencers posted a revenue of Rs 431 crore. It posted online growth at 20 per cent for the quarter in review. The company saw operating cost reduction as it reduced from Rs 102 crore in the third quarter of LY to Rs 70 crore in the third quarter of CY.
Natures Basket posted a revenue of Rs 86 crore, marking a two per cent growth on a year-on-year basis. It opened two new Artisan Pantry Stores in Bangalore MG Road and Ahmedabad Palladium Mall.
