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11 February 2022, Mumbai:
Multi-brand retail chain V-Mart Retail on Friday reported a 17.77 per cent fall in net profit to Rs 47.87 crore for the quarter ended on December 31, 2020, on account of lower income.
The company had posted a profit of Rs 58.22 crore for the corresponding period of 2019-20. The total income during October-December 2020 stood at Rs 470.30 crore, down 16.40 per cent as against Rs 562.58 crore in the year-ago period, V-Mart said in a filing to the BSE.
V-Mart said the Covid-19 pandemic has a significant impact on the business operations and financial results of the company for the quarter and period ended December 31, 2020.
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"With easing lockdown and opening of economic activities, the company believes that the company's operations will increase and expects the momentum to continue with an overall improvement in Covid-19 situation," it added.
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*Figures mentioned in the above article have been sourced from ET & Money Control article.
