Revenue from operations climbs by 15.9 per cent to Rs 786 crore, up from Rs 678.5 crore in the previous fiscal year
V-Mart Retail recorded a net profit of Rs 12 crore for the first quarter ending 30 June 2024. V-Mart Retail reported a net loss of Rs 21.9 crore for the quarter, according to a regulatory filing.
Revenue from operations climbed by 15.9 per cent to Rs 786 crore, up from Rs 678.5 crore in the previous fiscal year. EBITDA increased by 88.9 per cent to Rs 99 crore in the first quarter of this fiscal year, up from Rs 52.4 crore the previous year.
The EBITDA margin was 12.6 per cent in the reporting quarter, up from 7.7 per cent in the same period last fiscal year.
In the quarter, same-store sales (SSSG) increased by 11 per cent year on year, driving footfall growth. The inventory at the end of the quarter was Rs 671 crore, down 7.5 per cent year on year and had been cut by Rs 54 crore, which improved working capital.
The firm stated that it remains committed to its store expansion plan, having built seven new stores in Q1 FY25 and closing three underperforming stores, bringing the total number of stores in India to 448 as of quarter end.
