Shoppers Stop did very well for Q3FY22. It reported a consolidated net profit of Rs.77 crore vs net loss of Rs.25 crore in Q3FY21. Revenue from operations was also up 33% at Rs.958 crore.

The company said that it “returned to profitability with a zero net debt.”

The company, over the future outlook, said that it is encouraged by the strong rebound and expects an accelerated growth trajectory now, driven by a robust recovery from the lockdown blues, accelerated small size store expansion, growth in the private-label mix, and an increased focus on high growth beauty business.

It expects the third wave to cause a small blip in the growth trajectory but says long term outlook is good.

On the back of this performance, the stock has been among the top five gainers on the BSE. It opened almost 10% higher at 39.50 and rose to an intraday high at Rs.47. Its 52-week high is at Rs.60