Indian retailer Pantaloon Retail has seen bottom-line gains trail sales growth during its second quarter.
Revenues rose 31.2% in the second quarter of fiscal 2011.
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However, Pantaloon said that post-tax profits rose just 5.5% to INR4.22bn (US$90m), as rising costs, inflation and pricing actions eroded margins.
The company revealed that margins fell 147 basis points, dropping to 8.6%.
Nevertheless, Pantaloon remained upbeat on its ability to manage margins. “Inflation will continue to be a permanent reality and we are developing strategies to benefit from it,” the group insisted.
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Looking ahead, Pantaloon said that it would focus on “upgrading customers at higher price points” as well as balance sheet improvements through debt reduction measures.
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By GlobalDataFor Pantaloon’s full financial release, click here.
