The value fashion and lifestyle products retailer, V-Mart Retail Ltd. reported narrowing of net loss to Rs. 14.14 crore for the second quarter of current fiscal.
As per its regulatory filing, the company had posted a net loss of Rs. 18.96 crore in July-September period a year ago.
The company’s revenue from operations was up 92.58 per cent to Rs. 337.97 crore during the period under review as against Rs. 175.50 crore in the corresponding period of the previous fiscal year. Total expenses were at Rs. 361.49 crore as against Rs. 216.25 crore a year ago.
It is pertinent to mention here that the retailer had opened seven new stores last month, four stores in Uttar Pradesh, two in Bihar and one in Uttarakhand. Now it has total 375 stores across India. Notably, it further plans to open around 50 stores every year.
The retailer hopes to recover from the COVID-19 disruptions over the next few quarters on the back of its retail expansion.
