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V-Mart Retail Ltd narrowed its net loss to INR 8.87 crore in Q2, a significant improvement from INR 56.51 crore in the same quarter last year. Revenue from operations rose to INR 806.87 crore, mainly driven by a strong growth in retail trade revenue, which increased to INR 800.32 crore. Total expenses also rose, while digital marketplace revenue declined. The results indicate that physical retail channels remain strong, and the company's strategies to expand stores and improve operations are yielding positive effects despite challenges in its online segment.
V-Mart Retail Ltd reported a reduced net loss of INR 8.87 crore in the second quarter ended September 30, driven by higher retail trade revenue. This marks a significant improvement from the same quarter last year, when the company had recorded a net loss of INR 56.51 crore, according to a regulatory filing. Advertisement
The company's revenue from operations rose to INR 806.87 crore in the quarter under review, up from INR 660.97 crore in the corresponding period last year. Total expenses also increased to INR 813.91 crore from INR 710.73 crore in the previous year.
Retail trade revenue grew to INR 800.32 crore, compared to INR 650.57 crore in the year-ago period, while revenue from its digital marketplace declined to INR 8.48 crore from INR 12.67 crore during the same period. The company's performance highlights the continuing strength of physical retail channels despite a slowdown in digital marketplace sales.
V-Mart Retail, which operates a chain of value retail stores across India, has been focusing on expanding its retail footprint and optimizing store operations over the past few years. The improvement in its quarterly performance reflects rising consumer demand and a steady recovery in discretionary spending.
Source PTI
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