Shoppers Stop completed a further sale of 19.50% stake in Crossword on Friday i.e. 8 April 2022, reducing its stake to 29.50% held in the company.
The board on 31 August 2021 had approved the sale of 100% equity shares held by Shoppers Stop in Crossword Bookstores (Crossword) to Dinesh Gupta, Aakash Gupta & Family (owners of Agarwal Business House) (ASH), Pune.
On 11 October 2021, Shoppers Stop had completed the sale of 51% stake of the company in Crossword and Crossword had ceased to be a subsidiary of the company. In continuation to the same, Shoppers Stop plans to sell its entire 100% equity shares held in Crossword.
Shoppers Stop reported consolidated net profit of Rs 77.32 crore in Q3 December 2021 as against net loss of Rs 25.11 crore in Q3 December 2020. On a consolidated basis, net sales rose 33.82% to Rs 958.11 crore in Q3 December 2021 over Q3 December 2020.
Shares of Shoppers Stop rose 0.99% to Rs 464.05 on BSE. Shoppers Stop is the nation's leading premier retailer of fashion and beauty brands.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU