India’s leading value fashion retailer, V-Mart Retail has announced financial results for the fourth quarter and fiscal ended March 2018.
During the quarter under review, the company reported a more than twofold increase in net profit to Rs. 15.91 crores from what was Rs. 6.44 crores in the corresponding quarter of last fiscal.
Further, the fashion retailer noted total income of Rs. 298.58 crores in the first quarter of this fiscal as compared to Rs. 253.17 crores during the same period last year.
Net profit for the fiscal under review increased from Rs. 43.90 crores in the preceding fiscal to Rs. 77.70 crores in the reporting quarter this year.
Total income for the reporting fiscal remained Rs. 1,226.51 crores as against Rs. 1,005.86 crores in the last fiscal.
The positive financial results coincide with the opening of two stores one each in Patna Bihar and Uttarakhand. The addition of two new stores has taken V-Mart’s total store count to 177 in 149 cities across 14 Indian states. It includes 37 composite stores and 140 fashion stores, as the company terms it, occupying a total area of around 14.8 lakh sq. ft.
For the past few years, the retailer has been performing with remarkable consistency – growing at over 20 per cent year-on-year.
It’s worth mentioning that V-Mart Retail Limited has recently been recognised as ‘The world’s best performing department store’ this year on the basis of its stock performance, according to data compiled by Bloomberg.
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