V-Mart Retail's Profit Surge and Expansion Gains Momentum

V-Mart Retail Ltd has reported a significant rise in net profit for the third quarter of 2024, marking a substantial financial recovery. The company's strategic store expansion plan is well underway with 21 new stores, enhancing its footprint across India amid strong revenue growth.

V-Mart Retail Ltd achieved a remarkable over two-fold increase in its net profit to Rs 71.63 crore for the third quarter ending December 2024. In comparison, net profit stood at Rs 28.23 crore during the same period in the previous fiscal year, as per a regulatory filing.

The company's revenue from operations surged by 15.5%, reaching Rs 1,026.73 crore. This marks a notable rise from Rs 889.05 crore in the October-December quarter last year. Meanwhile, total expenses in this period rose by 11% to Rs 960.37 crore.

V-Mart continues to focus on expanding its store network, opening 21 new outlets in Q3 FY25, thereby increasing its presence to 488 stores nationwide. The company's shares also saw a 3.94% rise, closing at Rs 3,488.45 each.

(With inputs from agencies.)