V-Mart Narrows Q2 Loss to ₹57.99 Crore with 20.3% Revenue Growth

29 Oct 2024 , 10:21 PM

V-Mart Retail Ltd reported a narrowed net loss of ₹57.99 Crore for the September quarter, down from a loss of ₹86.42 Crore in the same period last year. The company’s revenue from operations increased by 20.3%, reaching ₹660.97 Crore compared to ₹549.43 Crore in the year-ago quarter.

Total expenses for V-Mart rose by 13%, amounting to ₹720.73 Crore during the September quarter. The total income, including other earnings, was reported at ₹662.74 Crore, reflecting a 20.18% increase year-on-year. Same-store sales growth (SSSG) was impressive at 15% year-on-year, with the company maintaining inventory levels at ₹912 Crore.

V-Mart is actively pursuing its store expansion strategy, having opened 21 new stores in Q2 FY25 while closing 2 underperforming locations, bringing its total number of stores to 467 across India by the end of the quarter.

Revenue generated from V-Mart’s Retail Trade segment was ₹650.57 Crore, complemented by ₹10.40 Crore from its digital marketplace. The company’s strategic focus on store expansion and increased revenue positions it for improved performance in the upcoming quarters.