Value fashion retailer V2 Retail Ltd witnessed a 335 percent rise in net profit to Rs 5 crore ($6,01,109) for the quarter ended June 30, as against Rs 2 crore in the year-ago period.
The company’s revenue for the quarter rose by 25 percent to Rs 264 crore, as against Rs 211 crore in the corresponding period of the previous fiscal year.
During the April-June quarter, V2 Retail opened four stores and closed on store to end the quarter with 105 stores across the country.
V2 Retail launched in 2001 retails womenswear, menswear, and children’s wear. The company has been expanding its presence online and expects strong contribution from e-commerce for the current financial year.
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