V-Mart Q4 revenue jumps 16 percent to Rs 345 crore

By

Maverick Martins

Published
May 13, 2019

V-Mart Retail, India's leading value fashion retailer, witnessed a 16 percent rise in revenue to Rs 345 crore ($49.2 million) for the fourth quarter of the fiscal year 2019 as against Rs 297 crore it had reported in March 2018.
 

The company managed to narrow its losses by over 106 percent to Rs 1 crore on the back of strong sales. It had reported a net loss of Rs 24 crore during the corresponding period last fiscal.
 
V-Mart’s total revenue for the entire fiscal year 2018-19 also rose by 17 percent to Rs 1430 crore as a result of strong festive season sales during Dussehra, Diwali, and Holi.

Commenting on the company's performance in FY19, Lalit Agarwal, managing director at V-Mart in a statement said: "We have maintained a steady growth trajectory in the past years, and earned the loyalty and trust of crores of consumers, for whom V-Mart has become a preferred family apparel shopping destination.”
 
“With our commanding market leadership and guided by the rapidly growing aspiration of smaller town consumers to wear affordable fashion, we intend to accelerate our pace of expansion. To achieve this, higher manpower investments for future growth and capacity expansion will be crucial, even as we continue to maintain a strong balance sheet,” he added.
 
V-Mart opened 44 stores during the fiscal year 2019 and entered three new states by opening stores in Assam, Meghalaya, and Himachal Pradesh. The company now has over 200 stores across 17 states in India.