V-Mart revenue up 39 percent in first quarter
today Aug 22, 2017
V-Mart Retail Ltd, a multi brand retail chain's operational revenue during the first quarter increased 39% to Rs 315 crore ($49.2 million) from Rs 227 crore ($35.4 million) in the corresponding quarter of previous fiscal. Net profit stood at Rs 22.3 crore (approx $3.5 million) from Rs 93.6 crore (approx $14.6) the company had reported during the same period of the previous fiscal.
Earnings before interest, taxation, depreciation and amortisation (EBITDA) too grew 107% to Rs 37 crore over the previous year quarter. Ebitda margin expanded 380 bps to 11.75% in Q1FY8 from 7.92% in Q1FY17.
CMD, V-Mart Retail Ltd, Lalit Agarwal, thanked all stakeholders for helping V-Mart achieve yet another spectacular quarter of good performance.
He also acknowledged the efforts of team V-Mart for successful execution of GST and expressed his gratitude to the entire vendor base for coming on-board the GST platform.
V-Mart opened eight new stores during the quarter taking its total store-count to 149 across 126 cities, the company said in a statement.
In Q2, V-Mart’s focus will revolve around increasing the depth of the business i.e. increasing the quantity and unique product options across size range besides increasing the contribution of private labels, investing in technology and building up the organization across functions to offer more value to the customers.
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