The company posted same-store sales growth (SSSG) of 25 per cent in the recently concluded quarter
Despite a higher base and overall subdued consumer sentiment, V2 Retail, a value retail company has reported a 117 per cent increase in its consolidated net profit for the third quarter of the current financial year (Q3FY25). The company’s net profit stood at Rs 51.2 crore during the quarter, up from Rs 23.6 crore in Q3FY25.
The unaudited consolidated financial results of the company revealed a 58 per cent on-year increase in its revenue which surged to Rs 590.9 crore during the recently concluded quarter. The consolidated revenue in the corresponding quarter of the previous fiscal was Rs 373.8 crore. The earnings before interest, tax, depreciation and amortisation (EBITDA) also marked an uptick of 83 per cent YoY during the quarter.
The EBITDA of the company was Rs 111.5 crore in Q3FY25, as compared to Rs 60.9 crore in Q3FY24. The EBITDA margin for the company was 18.9 per cent for the quarter ended 31 December 2024, up from 16.3 per cent in Q3FY24.
“By focusing on penetrating underserved rural markets and maintaining a strong presence in Tier I and Tier II cities, we reach a diverse customer base alongside understanding and responding to the unique preferences and needs of our customers across different regions through localised product offerings and personalized shopping experiences has given us the edge compared to others,” stated Ram Chandra Agarwal, Chairman and Managing Director of V2 Retail.
The company stated that despite a higher base and subdued consumer demand, it posted same-store sales growth (SSSG) of 25 per cent in Q3FY25 and 31 per cent in the first nine months of the current fiscal (9MFY25). As of 31 December 2024, the Company operates 160 stores with a total retail area of around 17.22 lakh square feet. The Company opened 45 stores and closed two stores in 9M FY25.
