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Spencer Records A Consolidated Net Loss Of Rs. 33.63 Crore In Q1

Spencer's Retail Ltd’s regulatory filing showed a Rs. 33.63 crore worth of consolidated net loss in the first quarter.

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FMCG sectors to show an upward growth if planned effectively during the Indian festive season

Spencer's Retail Ltd’s regulatory filing showed Rs. 33.63 crore worth of consolidated net loss in the first quarter. 

In the same quarter, a year ago, the firm had clocked a net loss of Rs 23.55 crore, as per the regulatory filing. 

There was an additional surge of 12.5 per cent in its revenue from operations to reach Rs. 621 crores during the first quarter, as compared to Rs. 552 crores in the year-ago period.

Additionally, there was a surge in the company's total expenses which were recorded at 12.47 per cent to Rs 673.03 crore in the first quarter of the fiscal year 2022-23. In comparison to this, it was Rs. 598.37 crore in the previous year. 

Spencer's operates 155 stores with a total trading area of 13.89 lakh square feet as of Jun 30, 2022.

As per their public statement,   the firm’s current liabilities, including current borrowings, has seen an extension of current assets by Rs 403.73 crore.

The company has managed to surpass the non-food business pattern of pe-pandemic levels. It has also touched the highest ever non-food mix in the last 3 years. 

On Thursday, Spencer’s shares were trading at Rs 74.20 on BSE, down 0.60 per cent from the previous close.


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