Value fashion retailer V2 Retail Ltd in its quarterly update stated that it has recorded a 25 percent growth in revenue from operations at Rs 264 crore ($32.1 million) for the April-June quarter, as against Rs 211 crore posted in first quarter of previous fiscal year.
The standalone revenue is subject to review by the statutory auditors of the company.
The company expanded its retail presence by opening four new stores during the period and closed one store ending the quarter with a total retail area of 11 05 lakh sq ft.
The company had reported a total income of Rs 845 crore in the previous financial year with net loss of Rs 13 crore.
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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