Market News
2 min read | Updated on July 03, 2024, 15:13 IST
SUMMARY
V-Mart’s same-store sales growth (SSSG) was up 11% YoY for the quarter, of which V-Mart saw a 12% YoY rise while Unlimited was up 8% YoY. The company reported that income from LimeRoad digital marketplace of ₹12 crore represents the commission income charged from sellers on the net merchandising value (NMV) of ₹29 crore.
Stock list
V-Mart shares hit 52-week highs after operating revenue grows 16% in Q1 to ₹786 crore
The company’s same-store sales growth (SSSG) was up 11% YoY for the quarter, of which V-Mart saw a 12% YoY rise while Unlimited was up 8% YoY. The company reported that income from LimeRoad digital marketplace of ₹12 crore represents the commission income charged from sellers on the net merchandising value (NMV) of ₹29 crore.
During the quarter, the company opened seven new stores with V-Mart seeing 5 new stores and Unlimited adding two stores. Of the 7 new stores, two stores are located in Bihar while the other stores are located in Gujarat, Tripura, Uttar Pradesh, Andhra Pradesh, and Tamil Nadu. The company closed three stores during the first quarter.
For the quarter ended June 30, 2024, the company had a total of 448 stores with V-Mart’s 370 stores and Unlimited’s 78 stores.
V-Mart Retail reported a 13% year-on-year (YoY) rise in its fourth-quarter operating revenue at ₹669 crore. Net loss widened to ₹39 crore during the quarter compared to a net loss of ₹37 crore in the same period of the previous fiscal. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 76% to ₹40 crore.
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.
Shares of the company have risen by nearly 51% since the beginning of the year. The stock has gained over 33% in the last one year.
About The Author
Next Story