V2 Retail, the value fashion retailer, has announced the result of the third quarter of the current fiscal. The company reported a net profit of Rs. 9 crore for Q3, FY ’22-23 compared to Rs. 12 crore in Q3 of FY ’21-22. Its revenue for the third quarter of the current financial year has been Rs. 239 crore, as against Rs. 238 crore for the same period of last fiscal.
The company, offering a large variety of womenswear, menswear and kidswear, also announced the appointment of Prank Adukia as Chief Financial Officer (CFO) in its earnings update.
During the third quarter, the retail giant opened one new store and closed five of its non-performing stores to end the calendar year 2022 with a store count of 99 and a total retail area of 10.59 lakh sq. ft.
During the first nine months of the current financial year, the company’s revenue was at Rs. 645 crore with a net profit of Rs. 5 crore.
