Spencer's Retail Q1 results: Net loss widens to Rs 64.13 crore

Sanjiv Goenka Group arm Spencer's Retail Ltd on Thursday said its consolidated net loss widened to Rs 64.13 crore for the first quarter ended June 2023.

The company had posted a net loss of Rs 33.63 crore in the April-June period a year ago, Spencer's Retail said in a regulatory filing.

Its revenue from operations fell 8.18 per cent to Rs 570.17 crore during the quarter under review as against Rs 621 crore in the year-ago period.

The company's total expenses were Rs 646.34 crore, down 4 per cent in the first quarter of FY2023-24.

Its total income in the June quarter declined 8.94 per cent to Rs 582.11 crore.

Spencer's operates 152 stores with a total trading area of 13.29 lakh square feet as of June 30, 2023.

On the business of Nature's Basket, acquired from Godrej Industries, Spencer's Retail said it has reported a standalone turnover of Rs 67 crore.

Nature's Basket operates 34 stores with a total trading area of 1.03 lakh square feet as of the quarter ended June 30, 2023.

Share of Spencer's Retail Ltd on Thursday ended 5.59 per cent lower at Rs 62.28 apiece on the BSE.