V-Mart Q2 revenue grows 8% YoY to Rs 549 crore; stock gains

Shares of V-Mart jumped nearly 1 percent in early trade on October 4 as the company reported an 8 percent jump in Q2 revenue on YoY basis.

At 9:32 am the V-Mart stock was trading 0.76 percent higher at Rs 2016 on NSE.

V-Mart Retail has announced total revenue of Rs 549 crore for the quarter ended September FY24, up 8 percent compared to Rs 506 crore in the corresponding period last year. Due to the shift in the Hindu calendar the festive sales period (leading to Durga Puja, Dusshehra) has moved from Q2 to Q3 in the current year as detailed in the business update filing by the company with BSE dated October 3.

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V-Mart Retail Ltd on August 9 reported a consolidated net loss of Rs 21.94 crore in the June quarter of FY24, as against a net profit of Rs 20.45 crore in the same quarter of the previous financial year.

The retail chain’s revenue in Q1FY24, however, came in at Rs 678.52 crore, rising 15.4 percent from Rs 587.88 crore in the year-ago period, the company said in a regulatory filing. Sequentially, the revenue was higher by 14.2 percent as compared to Rs 593.91 crore clocked in the fourth quarter of the last fiscal.

Segment-wise, the revenue clocked through retail trade in Q1FY24 came in at Rs 661.15 crore, whereas, Rs 17.36 crore was mopped through digital marketplace.

”The company’s EBITDA margin stood strong at 13 percent of revenue excluding the loss contributed from the newly acquired Limeroad marketplace segment,” V-Mart stated in its earning statement.

Stock Performance

The V-Mart stock has lost 6.57 percent of its value over the last six months. The benchmark Nifty50 index has given a return of 11.23 percent over the same duration.

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