V-Mart Retail launches 4 new stores

V-Mart Retail Ltd informed the bourses on Wednesday that the company has opened four new stores, in the state of Arunachal Pradesh, Uttar Pradesh, Delhi and Jammu & Kashmir, respectively.

With this total number of V-Mart Retail stores increased to 243 stores in 186 cities across 19 states and total tally of stores in Uttar Pradesh to 91, in Delhi to 3 and in Jammu & Kashmir to 7. Meanwhile, this will be its first store in Arunachal Pradesh.

Last month, the company had opened three new stores, one in the state of Madhya Pradesh and two in the state of West Bengal respectively. Opening stores just ahead of the festive season is expected to have positive impact on the revenue of the company.

In the first quarter of FY20, V-Mart Retail had reported 25.5 per cent rise in its revenue, aided by launch of new stores and higher footfall. EBITDA jumped 30.3 per cent and margin expanded by 50 basis points to 12.8 per cent. However, its net profit slipped 29.3 per cent to Rs. 17.6 crore in Q1FY20.

Incorporated as Varin Commercial Private Limited in 2002, V-Mart Retail primarily operates in tier II & tier III cities with the chain of “Value Retail”.

On Wednesday, shares of V-Mart Retail closed in BSE at Rs.1936.45 as compared to the previous close of Rs. 1907.60. The stock hit an intraday high of Rs. 1952.20 and intraday low of 1912.20.