V-Mart Retail Ltd. recorded a significant 16 per cent increase in revenue during the third quarter of the fiscal year, reaching Rs 1,027 crore (US $ 119.8 million) compared to Rs 872 crore (US $ 101.67 million) in the same period last year.
The company’s digital arm, Limeroad, reported a revenue of Rs 11 crore (US $ 1.23 million), down from Rs 17 crore (US $ 1.98 million) in the previous year’s corresponding quarter. This revenue represents commission income earned on a net merchandising value (NMV) of Rs 29 crore (US $ 3.38 million).
V-Mart attributed the revenue growth to a 10 per cent increase in same-store sales. The company explained that the shift in the Hindu calendar caused the Durga Puja sales period to move from the third quarter to the second quarter in the current fiscal year.
During the quarter, V-Mart expanded its retail presence by opening 21 new stores, bringing its total store count to 488 as of 31st December 2024.
