Quarterly profit jumps on Rs 155 crore lease gain; revenue rises 10%
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Revenue rose 10.4% to Rs 535.45 crore in Q2, while half-year revenue rose 22.4% to Rs 1,113.10 crore. Q2 profit after tax jumped to Rs 114.12 crore from Rs 2.90 crore. The main boost was an exceptional Rs 155.26 crore gain from revised store leases. Without that gain and its tax effect, the company remained loss-making. The auditor reported no material problem but highlighted the pending warehouse fire insurance claim.
Revenue growth helps, but the one-off lease gain lifts reported profit. Underlying losses and the pending insurance claim may pressure the stock.