The shares of the India-based retail store chain gained up to 15 percent after the company’s net profit and revenue increased by 143 percent and 61 percent QoQ, respectively in the third quarter.
With a market capitalization of Rs 4,182.16 crore, the shares of V-Mart Retail Ltd closed at Rs 2,114.70 per share, increased around 1.46 percent as compared to the previous closing price of Rs 2,092.90 apiece.
Looking into the company’s Performance, V-Mart Retail Ltd’s revenue increased by 61 percent on a quarter-on-quarter basis from Rs.549 crores in Q2FY24 to Rs. 889 crores in Q3FY24. Further, revenue increased by 14 percent year on year from Rs. 777 crore in Q3FY23 to Rs. 889 crore in Q3FY24.
V-Mart Retail Ltd’s net profit increased by 143 percent on a quarter-on-quarter basis from a loss of Rs. 64 crore in Q2FY24 to a profit of Rs. 28 crore in Q3FY24. Further, net profit increased by 40 percent yearly from Rs 20 crore in Q3FY23 to Rs. 28 crore in Q3FY24.
The firm invested Rs 27,790 Lakhs, with Rs 10,924 Lakhs for storage and Rs 7,031 Lakhs for LimeRoad. In addition, V-mart spent on building 59 new stores, refurbishing existing ones, and covering IT expenditures.
Furthermore, the majority of these monies were directed toward the construction of a new warehouse, which had just opened. Furthermore, the corporation engaged in renovating 20 existing stores and adopting different automation systems within them.
V-mart has grown at a CAGR of about 20% over the past 15-20 years. Over the past decade, its market value has grown from Rs 300 crores in FY 2012-13 to Rs 4,265 crores as of March 31, 2023.
V-Mart Retail Limited is an India-based retail shop network that sells ready-made clothing and accessories. The company works in two segments: retail trade and digital marketplace. The Retail Trade division makes domestic sales to clients in shops.
Written by:- Abhishek Singh
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