India, Sept. 29 -- Shoppers Stop wants investors to read this quarter as the one where the turnaround finally showed up in the profit line. On the metric the company chose to lead with, it has consolidated PAT flipped to a Rs.5 crore profit from a Rs.4 crore loss a year ago. The company still lost money, Rs.14.25 crore at the consolidated level, narrower than last year's Rs.15.74 crore loss.

Shoppers Stop shares closed around Rs.416.05, down 1.75% from its previous close of Rs.423.45, valuing the company at close to Rs.4,585.11 crore. The stock trades at close to 15.9 times book value.

Two Numbers, One Quarter The gap between the two profit figures isn't a rounding difference. Shoppers Stop's non-GAAP numbers strip out Ind AS 116 lease...