V-Mart Retail Ltd, one of India’s leading value retailers, has announced a net loss of Rs 64.12 crore for the second quarter, ending September 2023. This is a significant increase from the net loss of Rs 11.31 crore incurred during the same period last year. The company made this disclosure in a regulatory filing.
In terms of revenue, V-Mart Retail reported a figure of Rs 549.43 crore for the September quarter, compared to Rs 506.16 crore in the corresponding period of the previous year.
However, V-Mart Retail clarifies that the results are not directly comparable due to the inclusion of the business operations of digital marketplace LimeRoad, which the company acquired the previous year. As a result, the financial performance for the quarter ending September 30, 2022, cannot be compared to previous periods.
The total expenses incurred by V-Mart Retail in the September quarter amounted to Rs 637.84 crore. Meanwhile, the company’s shares settled at Rs 1,702.45 apiece on Monday, marking a 0.46 percent decrease from the previous day’s closing price.
V-Mart Retail continues to navigate the challenging retail landscape, implementing strategic measures to drive growth and enhance profitability. The company remains focused on delivering value to its customers and maintaining its position as a key player in the retail industry.
Despite the current loss, V-Mart Retail aims to regain its financial stability and drive positive results in the upcoming quarters. With its extensive network of stores and commitment to customer satisfaction, V-Mart Retail is determined to maintain its position as a preferred shopping destination for Indian consumers.
About V-Mart Retail:
V-Mart Retail is a prominent player in the Indian retail industry, known for offering high-quality products at affordable prices. With a large presence across the country, V-Mart Retail caters to the diverse needs and preferences of Indian consumers. The company’s commitment to providing value for money has made it a favored choice among shoppers nationwide.
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