28 October 2024, Mumbai
Value fashion retailer V2 Retail’s Q2, FY25 net loss narrowed to Rs 2 crore ($237,828) from Rs 6 crore net loss reported in the corresponding quarter last year. The company’s revenue grew by 64 percent Y-o-Y to Rs 380 crore during the quarter as against Rs 231 crore in the corresponding quarter last year.
In H1, FY25, V2 Retail’s net profit increased to Rs 14 crore from Rs 50 lakh in H1 FY24. Following a historic FY24, the company continues to deliver robust results with the first half of the financial year been very reassuring, states Ram Chandra Agarwal, Chairman and Managing Director. The company’s strategic initiatives helped drive innovation in product development during the period resulting improved store experiences, and elevated customer satisfaction, he adds.
Demand for the company’s remains strong in the current festive season, notes Agarwal adding, the upcoming wedding and winter seasons are likely to further enhance V2 Retail’s market position. Having added five new stores in Q2, FY25, the company plans to continue expanding its retail footprint further.
