V-Mart Retail's Q4 operating revenue jumps 13%, net loss widens to ₹39 crore

Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 76% to ₹40 crore.

The company’s same store sales (SSSG) grew by 6% YoY for the quarter with better festive and wedding season-led footfall growth. Footfalls rose 25% to 1.4 crore in the fourth quarter.

For the fiscal year 2024, revenue from operations grew 13% to ₹2,786 crore while EBITDA fell 21% to ₹213 crore. Net loss grew 12 times to ₹97 crore during the year.

The year witnessed 1% growth in same store sales (SSSG). Total retail space rose 4% to 38.6 lakh square feet during the year. The monthly sales per square feet grew 3% to ₹641. Total expenses of the company shot up nearly 18% to ₹2,937 crore for the year. Expenses towards manpower rose 12% to ₹287 crore.

The company said it remains focused on its store expansion plan and has opened 46 new stores in FY24 while closing 25 underperforming stores, taking the total number of stores pan-India to 444 as at the end of the year.

The board of directors appointed Raghuvesh Sarup and Shweta Kumar as additional directors to be designated as non-executive independent director of the company for a term of five consecutive years.

V-Mart is an omni retail store chain that offers fashion apparel, footwear, home furnishings, general merchandise and kirana. Primarily focusing on Tier 2 and 3 cities, V-Mart is present pan-India with an average store size of 8,000 square feet.

Shares of the company have gained 7.5% since the beginning of the year. The stock has gained 2.7% in the last one year.