V-Mart Retail: Narrowing Losses and Expansion Strategy

V-Mart Retail Ltd reported reduced net loss of Rs 57.99 crore for the September quarter, improving from Rs 86.42 crore loss in the same period last year. Revenue increased by 20.3% to Rs 660.97 crore. The company opened 21 new stores in Q2 FY25, closing 2 underperforming ones.

V-Mart Retail Ltd has reported a significant reduction in its net loss, down to Rs 57.99 crore for the September quarter, an improvement compared to the Rs 86.42 crore loss recorded during the corresponding period of the previous year.

The company, known for its value retailing, has seen its revenue from operations surge by 20.3% to Rs 660.97 crore, up from Rs 549.43 crore in the year-ago selection. Total expenses also rose by 13% to Rs 720.73 crore for this quarter.

According to an earnings statement, V-Mart's same-store sales grew by 15% year-on-year with inventory reaching Rs 912 crore. The retailer opened 21 new stores and closed 2 underperforming ones during Q2 FY25, bringing its total operations to 467 stores across India. Shares of V-Mart settled at Rs 4,450.30, up 1.43% from the previous close.

(With inputs from agencies.)