Value fashion retailer V2 Retail Limited declared a 162 percent increase in net profit, attaining Rs. 16 crore for the first quarter concluding 30th June, compared to Rs. 6 crore in the same quarter last year.
The company’s revenue for the quarter increased by 57 per cent to Rs. 415 crore, in comparison to Rs. 264 crore in the same quarter of the last fiscal year.
Remarking on the results, Ram Chandra Agarwal, Chairman and MD of V2 Retail, stated, “Following a record-breaking FY ’24, we are excited to begin the present financial year with the biggest-ever quarterly sales for Q1 FY ’25 and a 162 per cent year-over-year rise in PAT. The dedicated efforts of our team in implementing strategic initiatives and attaining growth targets are now obvious in our performance.”
He continued, “We are self-assured that our business is well-positioned to offer significant value to both customers and shareholders moving forward. The increasing popularity of our brands highlights the potential appeal of our platform and the substantial opportunities ahead.”
Throughout the April-June quarter, the company launched 10 new stores, bringing its total to 127 locations across India.
