Spencer’s posts ~49.45 crore pre-tax loss in March quarter

Despite posting a 22.27 per cent rise in its revenue at ~640.05 crore during the March quarter, Spencer’s Retail posted a pre-tax loss of ~49.45 crore, primarily owing to steep rise in finance costs, depreciation and amortisation and purchase of stock-in-trade. It had earned a revenue of ~523.46 crore during the similar quarter of the 2018-19 financial year with a pretax profit of ~1.22 crore. The company posted a net loss of ~49.26 crore during the period under review as against a net profit of ~1.83 crore during the Q4 period of the 2018-19 financial year.

Net loss of ~49.26 cr as against a net profit of ~1.83 cr year-on-year