Indian grocery retailer Spencer's Retail slumps on Q3 rev fall

Spencers Retail

16/01/2025 09:20

** Shares of grocery retailer Spencer's Retail  SPEN.NS 
fall 4.3% to 88.6 rupees 
    ** Retailer reported ~21% y/y fall in Q3 consol rev to 5.17
bln rupees ($59.8 mln)
    ** Net loss after tax narrowed to 473.4 mln rupees from loss
of 512 mln rupees a year ago, owing to ~20% decline in total
expenses 
    ** Stock was up 0.4% ahead of results 
    ** Over 1.2 mln shares traded, 4x the 30-day avg 
    ** SPEN lost ~25% in 2024 vs ~65% gains in 2023  

($1 = 86.5300 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))