V-Mart Retail reports Q4 net loss of Rs 39 crore

Value fashion retailer V-Mart Retail Ltd reported a net loss of Rs 39 crore ($4.7 million) for the fourth quarter ended March 31, as against a net loss of Rs 37 crore in the year-ago period.

The company’s revenue for the quarter rose by 13 percent to Rs 669 crore, as against Rs 594 crore in the corresponding quarter of the previous fiscal year.

For the full financial year 2024, V-Mart reported a net loss of Rs 97 crore on a revenue of Rs 2,786 crore.

“The same store sales grew by 6 percent year-on-year for the quarter with better festive and wedding season led footfall growth. The company remains focused on its store expansion plan and has opened 46 new stores in FY24 and closed 25 underperforming stores, taking the total number of stores pan-India to 444 as at year end,” V-Mart Retail said in a statement.

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