V2 Retail’s Q2 revenue up 76 per cent

12 November 2021, Mumbai:

For the second quarter, V2 Retail’s revenue grew 76 percent. The gross margin stood at 30.8 percent for the quarter as compared to 31.8 percent for the same quarter last year. Stores were operational on an average for 86 percent days of the total days for the quarter.

The EBDITA margin stood at 11.1 percent.

Revenue for the first half of the year grew by 90 percent. The EBITDA grew by 63 percent for the first half of the year. The EBIDTA margin stood at 11.7 percent. The company opened three new stores during the second quarter.

There are 96 stores spread across 15 states and 84 cities with a total retail area of 10.15 lakh sq. ft. Same-store sales growth for the second quarter stood at 59 percent. All the stores are now fully operational with overall store operation days at 86 percent for the quarter.

And V2’s customers are leveraging the convenience of its digital platforms with the online channel. Store expansion plans are on track and barring delays due to the pandemic the plan is to open additional five or six stores in the second half of the year. The emphasis on private brands continues.

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