V2 Retail reports for Q1FY24

19 August 2023, Mumbai

Value fashion retailer V2 Retail Ltd achieved a remarkable 335% surge in net profit, reaching Rs 5 crore ($601,109) for the quarter concluding on June 30, surpassing Rs 2 crore in the previous year.

Revenue climbs by 25%

The company's quarterly revenue ascended by 25% to Rs 264 crore, compared to the prior fiscal year's Rs 211 crore.

Strategic store moves

During April-June, V2 Retail inaugurated four stores and shuttered one, culminating in 105 stores nationwide.

Diverse product line

Established in 2001, V2 Retail offers womenswear, menswear, and children's wear. The brand has been bolstering its online presence and anticipates robust e-commerce contributions in the current financial year.

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