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V-Mart reports over Rs 1000 crore turonver for FY17

Vjmedia Works | May 08, 2017

The brick and mortar retail chain leader exceeds expectations and defies market trends by reporting its revenue going up by 24%, GP by 25%, EBITDA by 33% and PAT by 43% in FY17, YoY

V-MART Retail recently reached a major milestone in achieving a big leap in their turnover. Being one of the fastest retail chain in India, V-MART  has achieved a target of Rs 1000 crore as its turnover for the year 2017. In the growing trend of e-commerce platforms, this milestone has been very significant in a stressed and brick and mortar retail environment. The company announced its audited financial results for the year ending March 2017, where there is an increase in revenue by 24% to Rs 1001.72 crores, EBITDA by 33% to Rs 82.58 crores and PAT by 43% to Rs 39.53 crores, YoY. The company now operates in many North Indian states with its 143 stores under the V-mart brand name. “Focus on customers’ expectations, technology adoption and store expansion have been key to our high performance,” said Lalit Agarwal, CMD, V-Mart Retail Ltd.


Lalit contributed to the company’s growth in 2016-17 by opening 21 new stores and the new ATM initiative launched by the company to help customers get cash from V-Mart stores during demonetization. This in turn helped the company to gain operating efficiencies through automation in supply chain. For 2017-18, the company aims to further seek improvements in per square feet sales, coming up with new stores, introducing new collections for festivities, target marketing for the key customer segments in rural and urban areas and improving fashion offerings at much better price points.

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