V-Mart Retail's Q3 FY20 revenue jumps 21%

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year. 

 

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year.#

On this performance the company reported that every year third quarter tends to outperform other quarters aided by buoyant consumer sentiments during the festive season triad of Durga Puja-Diwali-Chhath. 

 

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year.#

"We are committed to and focused on our long-term strategy for delivering value fashion to the aspiring India, while being resilient and agile in adapting business execution to the changing environment. With our ears always close to the ground, we have been working in tandem to pursue calibrated expansion, maximise opportunities and bring in higher operating efficiencies," Lalit Agarwal, CMD, said in a press release. 

 

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year.#

V-mart reported that the contribution of Fashion segment to total revenue was 93 per cent and Kirana contributed 7 per cent to the revenue. Net profit for the quarter was Rs. 58.2 crore. YoY net profit was reported to Rs 57.8 crore.

 

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year.#

With the addition of 19 new stores, the company closed the quarter at a total of 257 stores and 21 Lakh sq ft retail area. The company has already added 46 new stores in this fiscal year, including entry into two new states in North East - Nagaland and Arunachal Pradesh - and further expanded its presence in Rajasthan and Madhya Pradesh, outside of its traditional strongholds of UP, Bihar and Jharkhand.

 

V-Mart Retail, lndia's leading value fashion retailer, reported its revenue boosted 21 per cent to Rs 562 crore in third quarter (Q3) FY20 that ended on December 31, 2019 compared to Rs 465 crore in same period prior year. YoY (Year-over-Year) revenue for nine months rose 22 per cent to Rs 1,329 crore compared to Rs 1,082 crore in same period prior year.#

For the upcoming Spring-Summer 2020 collection, the company reported that it is planning to launch two new themes - trendy streetwear for the youth, and a 'knowledge' themed collection for kids with exciting graphic prints inspired by animal faces, fruits, alphabets, and toys. At a broader level, the company is taking concerted initiatives to track rind adapt elohril trends faster to meet the fashion aspirations of its diverse target audience.