Market Style Shares: Bazaar Style Retail Limited, a recently listed company in the stock market, announced its June quarter results today on 25 September. The company said that it suffered a net loss of Rs 39 lakh in the June quarter. Whereas in the same quarter a year ago, the company had a profit of Rs 5.5 crore. However, on a quarterly basis, the company’s loss has reduced because earlier in the March quarter it had recorded a net loss of Rs 6.5 crore. Bazaar Style’s standalone revenue grew 21 percent to Rs 276 crore in the June quarter, from Rs 228 crore in the same quarter a year ago.
The company’s shares fell after the announcement of quarterly results. Around 2.05 pm, the stock of Bazaar Style was trading down by about 3 percent at Rs 372.
Let us tell you that Bazaar Style Retail was listed on the stock exchanges on 6 September this month. Its listing was flat. Shares were issued at a price of Rs 389 under the IPO and its listing on BSE also took place at a price of Rs 389.
Bazaar Style Retail’s ₹834.68 crore IPO was open for subscription from 30 August to 3 September. This IPO received a tremendous response from investors and overall it was subscribed 40.63 times. Veteran investor Rekha Jhunjhunwala also has an investment in this company.
About the Company
Bazaar Style Retail is a value fashion retailer with a market share of 3.03 per cent and 2.22 per cent in the organised value retail market of West Bengal and Odisha. The company operates in the apparel and general merchandise segments. As per data till March 2024, the company has 162 stores across 146 cities and most of them operate under the Style Bazaar brand. According to a Technopak report, it has the largest retail footprint in East India compared to listed value retailers like V2 Retail and V-Mart Retail in FY24.
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