V-Mart Retail profit falls 18 pc to Rs 47.87 cr in Dec quarter

PTI | New Delhi | Updated: 22-01-2021 15:37 IST | Created: 22-01-2021 15:37 IST
V-Mart Retail profit falls 18 pc to Rs 47.87 cr in Dec quarter

Multi-brand retail chain V-Mart Retail on Friday reported a 17.77 per cent fall in net profit to Rs 47.87 crore for the quarter ended on December 31, 2020, on account of lower income.

The company had posted a profit of Rs 58.22 crore for the corresponding period of 2019-20.

The total income during October-December 2020 stood at Rs 470.30 crore, down 16.40 per cent as against Rs 562.58 crore in the year-ago period, V-Mart said in a filing to the BSE.

V-Mart said the COVID-19 pandemic has a significant impact on the business operations and financial results of the company for the quarter and period ended December 31, 2020.

''With easing lockdown and opening of economic activities, the company believes that the company's operations will increase and expects the momentum to continue with an overall improvement in COVID-19 situation,'' it added.

Shares of V-Mart were trading 0.48 per cent lower at Rs 2,461.55 apiece on the BSE.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



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