V-Mart Retail reports for Q4 FY24

The Q4 FY24 revenues from operations of prominent retail chain V-Mart Retail increased by 12 per cent Y-o-Y to Rs. 668 crore as compared to Rs. 594 crore in Q4 FY23.

The company's primary retail arm, V-Mart recorded a 12 per cent rise in revenues to Rs. 653 crore in Q4 FY24 Rs. 582 crore in Q4 FY23. Digital marketplace LimeRoad recorded a 24 per cent rise in revenues to Rs 15 crore compared to the Rs. 12 crore reported in the corresponding quarter of the previous year.

The same-store sales growth (SSSG) for the quarter stood at 6 per cent, with V-Mart recording a 4 per cent growth and Unlimited, a retail brand focused on South India, achieving a notable 13 per cent growth.

In terms of store count, V-Mart Retail inaugurated nine new stores during the quarter, comprising 8 under the V-Mart brand and 1 under Unlimited. However, the company also shuttered 19 stores across various states, resulting in a net reduction of 10 stores. As of March 31, 2024, the company operates a total of 444 stores, with 365 under V-Mart and 79 under Unlimited.

For the full financial year 2023-24, V-Mart Retail reported a 13 per cent Y-o-Y growth in revenue, reaching Rs. 2,784 crore compared to Rs. 2,465 crore in the previous financial year. V-Mart's revenue grew by 11 per cent, while LimeRoad's contribution rose significantly by 319 per cent compared to the previous year.