V-Mart Retail reports Q1 net profit of ₹12 Crore

6 Aug 2024 , 12:26 PM

V-Mart Retail Ltd recorded a net profit of ₹12 Crore for the first quarter ending June 30, 2024. V-Mart Retail reported a net loss of ₹21.9 Crore for the quarter, according to a regulatory filing.

Revenue from operations climbed by 15.9% to ₹786 Crore, up from ₹678.5 Crore in the previous fiscal year. EBITDA increased by 88.9% to ₹99 Crore in the first quarter of this fiscal year, up from ₹52.4 Crore the previous year.

The EBITDA margin was 12.6% in the reporting quarter, up from 7.7% in the same period last fiscal year.

In the quarter, same-store sales (SSSG) increased by 11% year on year, driving footfall growth. The inventory at the end of the quarter was ₹671 Crore, down 7.5% year on year, and had been cut by ₹54 Crore, which improved working capital.

The firm stated that it remains committed to its store expansion plan, having built 7 new stores in Q1 FY25 and closing three underperforming stores, bringing the total number of stores in India to 448 as of quarter end.

At around 11.33 AM, V-Mart Retail was trading 7.36% higher at ₹3,516.10 per piece, against the previous close of ₹3,275.05 on NSE. The counter touched an intraday high and low of ₹3,733.50, and ₹3,459.75, respectively.

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