V-Mart Retail Ltd Q2 net loss narrows to Rs 58 crore

Value fashion retailer V-Mart Retail Ltd narrowed its net loss to Rs 58 crore ($7 million) for the September quarter, as against a net loss of Rs 86 crore reported in the year-ago quarter.

The company’s revenue for the quarter rose by 20 percent to Rs 661 crore, as against Rs 549 crore in the corresponding quarter of the previous fiscal year.

The revenue from retail trade for the quarter was Rs 651 crore while its digital marketplace contributed Rs 10 crore to the overall revenue.

V-Mart’s total expenses during the July-September quarter was up by 13 percent year-on-year to Rs 721 crore.

“The same-store sales grew 15 percent year-on-year, and the inventory stood at Rs 912 crore. The company remains focused on its store expansion plan and has opened 21 new stores in Q2 FY25 and closed 2 underperforming stores, taking the total number of stores pan-India to 467 as at quarter end,” V-Mart said in a press release.

Founded in 2002, V-Mart is an omnichannel retail store chain offering fashion apparel, footwear, home furnishings, general merchandise and kirana.