Vishal Mega Mart Q3 net profit jumps 28 percent to Rs 263 crore

Values fashion retailer Vishal Mega Mart reported a 28 percent increase in net profit to Rs 263 crore ($30.2 million) for the third quarter ended December 2024, as against Rs 205 crore in the year ago quarter.

The company’s revenue for the quarter witnessed a year-on-year rise of 20 percent to Rs 3,135 crore.

Commenting on the results, Gunender Kapur, managing director CEO of Vishal Mega Mart in a statement said, “The last quarter was a milestone quarter for us with the successful completion of our IPO. Despite subdued demand conditions in the consumer industry, we delivered a robust financial performance, achieving revenue growth of 19.5% in Q3FY25 and 19.4% in 9MFY25 taking the revenue from operations to Rs. 31,359 million and Rs. 81,685 million respectively.”

“With 668 stores operational across India, we continue to strategically expand our footprints, with a focus on tapping the large underserved organized retail market across geographies,” he added.

During the quarter, the company opened 23 new stores to take its count to 668 stores across 432 cities.