V2 Retail Ltd Q3 net profit jumps 117 percent to Rs 51 crore

Value fashion retailer V2 Retail Ltd reported a 117 percent surge in net profit to Rs 51 crore ($5.9 million) for the third quarter ended December 2024, as against Rs 24 crore in the year ago quarter.

The company’s revenue for the quarter increased by 58 percent to Rs 591 crore, as against Rs 374 crore in the corresponding quarter last year.

Commenting on the results, Ram Chandra Agarwal, chairman managing director of V2 Retail in a statement said, “The company has been able to deliver industry leading performance despite higher base and overall subdued consumer sentiment. We believe, the outperformance is a testament to the success of our strategic initiatives, which have driven excellence in innovative product development, enhanced store experiences, and delivered exceptional customer satisfaction.”

“At V2 Retail, the strategic initiatives undertaken so far and those under implementation has a potential to further improve our overall performance positively,” he added.

During the quarter, the company opened 21 new stores to take its count to 160 stores across 18 states. V2 Retail offers a portfolio of products, including apparel and lifestyle products.