V-Mart Retail Ltd. has announced its unaudited financial results for the quarter ending Sep 30, 2017.
During the first half of FY17-18, V-Mart reported an increase in revenue by 32 per cent Y-o-Y to Rs 5,570 million, EBITDA by 120 per cent Y-o-Y to Rs 456 million, PAT by 190 per cent Y-o-Y to Rs 251 million and same store sales growth (apparel) of
17 per cent.
For the Q2 FY18, V-Mart reported an increase in revenue by 23 per cent Q-o-Q to Rs 2,419 million, EBITDA by 207 per cent to Rs 858 million, PAT by 494 per cent to Rs 27 million and same store sales growth of 8 per cent. The company also reported complete eco-system of its vendors and ERP system fully on board and functional with GST.
Eight new stores were opened during Q2 FY18 out of which four were in Jharkhand, two in West Bengal, one in Bihar and one in UP. As at the end of the quarter, total retail area increased to 13.27 lakh sq.ft. The company also reported an increase in the mix of private label contributed sales to 54 per cent in Q2, FY 18.
Historically Q3 is the biggest quarter for the year and the company looks forward to a continued growth for the season. Delay in onset of winters around Diwali may reflect a weaker consumer sentiment.
The company aims to remain focused on increasing the contribution of sale from private labels such as Flick, Twist, Desi Mix , Charcoal and J White which have been doing quite well in the past. The company is further improving its range management and assortment planning systems in the next quarter to further augment its technology led growth strategy.
For the wedding season, V-Mart is geared up with a very rich range of men’s sherwani and latest bridal lehngas. Men’s winter casual range is full of latest fabrics and designs, from sports sweatshirts to jacquard sweaters and stylish jackets. Women’s range has the latest print and elegant embroidered sarees and dress material on silk, chanderi and jacquard fabrics. Kids wear has a special focus on style quotient with Leather jackets for both boys and girls, stylish patchwork sweatshirts in fabrics like color mélange and scuba fabrics.