Q1 Results: V-Mart’s Revenue Lifted By New Stores, Higher Footfalls

V-Mart Retail Ltd.’s first-quarter revenue was aided by the launch of new outlets and increased footfalls in existing stores despite a consumption slowdown, the company’s Chief Financial Officer Anand Agarwal said.

The company witnessed “good growth” in same-store sales as well as robust performance of new stores for the three-month period ended June, Agarwal told BloombergQuint, adding that the company received good traction across all geographies, especially in its core markets of Uttar Pradesh and Bihar.

He, however, expects the early part of the second quarter to be impacted by monsoon.

Q1 Earnings Highlights (YoY):

• Revenue rises 25.5 percent to Rs 453 crore.
• Net profit slips 29.3 percent to Rs 17.6 crore.
• Ebitda jumps 30.3 percent to Rs 58 crore.
• Margin expands by 50 basis points to 12.8 percent.
• Depreciation up 3.4 times at Rs 22 crore

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