Mumbai/IBNS, Jan. 21 -- Shares of Shoppers Stop Ltd fell sharply on Wednesday, declining up to 10 per cent in early trade, after the retailer reported a steep drop in consolidated net profit for the October-December quarter, media reports said.

Revenue from operations, however, rose marginally by 2.6 per cent to Rs.1,415.82 crore, from Rs.1,379.47 crore a year ago, according to the company's regulatory filing.

Total income for the quarter stood at Rs.1,439.77 crore, while total expenses increased to Rs.1,402.39 crore, putting pressure on profitability and margins.

The company said its premium brands continued to gain traction, contributing around 69 per cent of total sales, an increase of six percentage points year-on-year. Core busine...