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Published
Jun 2, 2021
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V-Mart Retail Ltd Q4 net loss narrows to Rs 1 crore

Published
Jun 2, 2021

Value fashion retailer V-Mart Retail Ltd managed to narrow its losses to Rs 1 crore ($137,284) for the fourth quarter ended March 2021, as against a net loss of Rs 8 crore it reported in the year-ago period.
 

V-Mart Retail Ltd Q4 net loss narrows to Rs 1 crore - V-Mart


The company’s revenue for the quarter increased by 7 percent to Rs 356 crore, as compared to Rs 333 crore it reported in the corresponding period of the previous fiscal year.
 
Commenting on the results, Lalit Agarwal, chairman managing director at V-Mart Retail, in a statement said: “Notwithstanding the pandemic, we did reasonably well in Q4. The business prepped up quickly. The company secured 110 percent of the corresponding sales for the same quarter of FY'20-'21. We managed to achieve a footfall recovery of over 80 percent for the quarter. We are also well poised as far as inventory levels and freshness is concerned, with strong sales without much discounting.

“We are in the process of revitalizing the omni platform by creative and compelling products and shopping experience as it could offer a tremendous boost to our overall sales going forward. Our internal team is working on improving the website and mobile app interface for a better customer experience,” he added.
 
V-Mart Retail currently has around 274 stores across India with a strong presence in tier 2, 3 cities. It plans to open around 55 stores in the current financial year.

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