Value fashion retailer, V2 Retail plans to open 20-25 new stores in FY25. The company added 15 new stores during the financial year 2024, bringing its total store count to 117.
During its recent fourth quarter ended March 31, 2024, V2 Retail posted a net profit of Rs 4 crore against a net loss of Rs 8 crore posted in the same period last year.
The company’s revenue for the quarter increased by 53 per cent to Rs 296 crore from Rs 193 crore in the corresponding quarter of the previous fiscal year. Its net profit for the entire FY2024 reached Rs 28 crore with revenue during the year totaling Rs 1,165 crore.
Ram Chandra Agarwal, Chairman and Managing Director, says, the company is well-positioned to accelerate and deliver substantial value to customers and shareholders. The growing acceptance of the company’s brands highlights not just the attractiveness of its platform but also the tremendous potential it offers to seize future opportunities, he adds.
