V-Mart Retail Hits Highest Point After Q1 Results Announcement

Last updated: August 6, 2024 | 11:16 AM IST

Shares of V-Mart Retail rose 11.32 per cent to Rs 3,616.65 after the company reported a net profit of Rs 12.14 crore in the first quarter of fiscal 2025 against a net loss of Rs 21.94 crore reported in the first quarter of fiscal 2024.

Revenue from operations increased by 15.85% year-on-year (YoY) to Rs 786.08 crore for the quarter ended June 30, 2024.

In Q1FY25, the company’s retail revenue stood at Rs 774.50 crore (up 17.14% YoY), while digital revenue stood at Rs 11.58 crore (down 33.29% YoY).

The company reported a pre-tax profit of Rs 9.32 crore in the first quarter of FY25, compared to a pre-tax loss of Rs 28.96 crore reported in the same quarter last year.

EBITDA increased by 88.93% to Rs 99 crore in Q1 FY25 as compared to Rs 52.4 crore recorded in Q1 FY24. EBITDA margin increased to 12.6% in Q1 FY25 as compared to 7.7% recorded in the corresponding quarter of the previous year.

Same-store sales (SSSG) grew 11% YoY in the quarter, which was driven by footfall growth. Closing inventory stood at Rs 671 crore, down 7.5% YoY, down Rs 54 crore, improving working capital.

The company said it remains focused on its store expansion plan and opened 7 new stores and closed 3 underperforming stores in the first quarter of fiscal 2025, taking the total number of stores across India to 448 at the end of the quarter.

V-Mart is a chain of general stores for the entire family, offering fashionable clothing, footwear, home furnishings, consumer goods and food products.

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First published: August 6, 2024 | 10:28 AM IST