Value fashion retailer Vishal Mega Mart reported a significant 28 per cent jump in net profit for the third quarter ending December 2024, reaching US $ 30.2 million (Rs. 263 crore) compared to US $ 23.575 million (Rs. 205 crore) in the same period last year. Revenue also saw substantial growth, increasing 20 per cent year-on-year to US $ 360.525 million (Rs. 3,135 crore).
Gunender Kapur, Managing Director and CEO of Vishal Mega Mart, highlighted the successful completion of the company’s IPO during the quarter, calling it a “milestone.” He noted that despite challenging consumer demand conditions, the company delivered robust financial results.
Kapur also emphasised the company’s strategic expansion, with 668 stores now operating across India, focusing on underserved organized retail markets. Vishal Mega Mart opened 23 new stores during the quarter, expanding its reach to 432 cities.
