Shoppers Stop share price nosedives over 12% post Q3 earnings; PAT drops 69%. Top factors that impacted financials

The stock tumbled as much as 12.38% to hit a low of ₹319.30 on the NSE. However, the scrip recovered a bit minutes later, and when last seen, shares were trading at ₹341.45, down 6.31%.

The retail chain on Tuesday reported a decline of 69.13% in its consolidated net profit at ₹16.12 crore in the December quarter of FY26, citing factors such as a shift in the festival period and uneven consumption trends.

It had posted a net profit of ₹52.23 crore in the October-December period a year ago, according to a regulatory filing from Shoppers Stop, the retail firm promoted by the Raheja family.

Its revenue from operations was marginally up 2.63% to ₹1,415.82 crore in the December quarter. It was at ₹1,379.47 crore a year ago.

"Overall sales for the quarter were flat, impacted by festive calendar shifts, uneven discretionary demand, and elevated pollution levels in northern India," said an earnings statement from Shoppers Stop.

Against this backdrop, the company continued to strengthen its premium portfolio, which recorded steady like-for-like growth and increased its contribution to total sales.

Q3 Results: Finer details

According to Shoppers Stop, premium brands contributed 69% of total sales, reporting a "growth of +6% YoY". However, its "core business sales were ₹1,516 cr, remaining flat YoY," it said.

Its total expenses were at ₹1,402.39 crore in the December quarter of FY26, up 5.5% from the year-ago period.

Total income of Shoppers Stop, which includes other income, was at ₹1,439.77 crore, up 2.7%.

MD and CEO Kavindra Mishra said, "Q3 was marked by external factors such as festive calendar shifts and uneven consumption trends, which weighed on overall sales. However, we continued to make steady progress on our strategic priorities."

During Q3 FY26, Shoppers Stop opened three department stores, three INTUNE stores, and one HomeStop store.