01 August 2024, Mumbai
Value fashion retailer V2 Retail reported a significant 162 percent rise in net profit to Rs 16 crore during Q1, FY25 ended June 30, compared to Rs 6 crore in the same quarter last year.
The company's revenue for the quarter rose by 57 percent toRs 415 crore from Rs 264 crore in the corresponding quarter of the previous fiscal year.
Ram Chandra Agarwal, Chairman and Managing Director, states, the robust sales figures achieved by the company are a result of the relentless efforts of its team and their strategic initiatives to achieve the targeted growth figures.
Going forward, the business is well-positioned to deliver substantial value to customers and shareholders. The growing acceptance of the company’s brands demonstrates the attractiveness of its platform and the tremendous potential to address opportunities that lie ahead, he adds. In the April-June quarter, V2 Retail also expanded its storecount by opening 10 new stores. This brings the company’s total store count to 127 across India.
