V-Mart registers 15% revenue growth in Q1 2018-19 than the same period last year
By Satarupa Chakraborty | July 25, 2018
The revenue growth has been aided by store network expansion in aspiring Tier 2, Tier 3 and Tier 4 towns and growth has indicated a 15% hike as compared with the first quarter of last financial year.
After closing the last financial year with record growth, value fashion departmental store chain V-Mart reported 15% growth at the end of first quarter of the current financial year. As per the detailed report, during the first quarter for 2018-19, V-Mart reported an increase in revenue by 15% to Rs3612 Mn, EBITDA by 16% to 432Mn, PAT by 11% to 249Mn and same store sales growth of 1% over a strong base of 23% in Q1 of previous year.
The company opened 8 new stores during the quarter out of which 2 were in UP, 2 in Bihar, 2 in Uttarakhand, 1 in West Bengal and 1 in J&K, taking the total store count to 179 stores in 149 cities with a total retail area of more than 15 Lakh sq.ft.
Recently appointed as the Chairman, Northern Council of Retail Association of India, Lalit Agarwal, CMD, V-Mart Retail Ltd. Said, “We know that if we have a right location and right merchandise, we will have customers at our store in any part of the country. Customers’ tastes are evolving and we bring in international fashion and cutting-edge technology with the support of our partners. Our focus on aligning fashion and customer aspiration has helped us in increasing footfall into our stores.”
