V-Mart-Retail Ltd. announced its unaudited financial results for the quarter ending December 31, 2017. For the period ending nine months FY 18, V-Mart reported an increase in revenue from operation by 23 percent to Rs 9,250 million, EBIDTA by 57 percent to Rs 1,097 million, PAT by 65 percent to Rs 618 million and same store sales growth (apparel) of 10 percent.
During Q3FY18, V-Mart reported an increase in revenue from operations by 13 percent to Rs 3,680 million, EBITDA by 30 percent to Rs 640 million, and PAT by 27 percent to Rs 367 million over the corresponding period last year. Same store sales growth for the quarter remained flat over a high base of 17 percent in Q3 of FY17.
The company opened 10 new stores in the quarter, with 4 additions in Uttar Pradesh, 2 in Jharkhand, 2 in Bihar, 1 in Uttarakhand and 1 in Odisha taking the total retail area under operations to 14 lakh sq.ft.
Speaking on the occasion, Lalit Agarwal, CMD said, “The company is also launching special merchandise for summers at very reasonable prices. New and summer friendly fabrics are also being launched in t-shirts with attractive cool summer colours with major focus on 100 percent premium cotton company is also launching ‘liva” fabric in women ethnic wear for the first time.”