V-Mart reports increase in revenue

V-Mart reports 22% growth in business from operations; EBITDA by 57% and PAT by 77% for the recently-concluded financial year. With a store count of 171, the retailer plans to strengthen its private label business

Departmental store chain, V-Mart Retail has posted record profits for the year ended March 2018, on the back of continued focus on fashion-led growth in aspiring Tier 2 and Tier 3 towns. During the FY2017-18, V-Mart reported an increase in revenue by 22% to Rs 12,224 million; EBITDA by 57% to Rs 1,328 million; PAT by 77% to Rs 777 million and same-store sales growth of 9% over a base of 13% previous year.

For Q4 FY18, the company reported an increase in revenue by 18% to Rs 2,974 million; EBITDA by 55% to Rs 231 million; PAT by 147% to Rs 159 million over the corresponding period of last year. Same-store sales grew by 7% for the quarter on a high base of 34% last year.

The company opened five new stores during the quarter out of which four were in UP and one in Bihar, taking the total store count to 171 stores with a total retail area of 14.4 lakh sq ft.

The retail market showed good growth, which was supported by strong marketing efforts. The company went in for store refurbishments apart from improving the merchandising and technology led supply chain apart from rejuvenating the consumer pull using multiple marketing initiatives. The cumulative effects of these efforts and new product range reflected in the buoyant results. V-Mart has also recently been included as part of the MSCI Index which will further enhance the image and investor participation for the company, globally.

Lalit Agarwal, CMD, V-Mart Retail reacted, “Customers tastes are evolving and we bring in international fashion and cutting-edge technology with the support of our Indian partners. We will focus on increasing our private label business significantly.”