Shares of V-Mart Retail Ltd. jumped 15% to record high on Wednesday after its third-quarter profit beat analysts' estimates.
The retail consumer service company's net profit rose 41.36% year-on-year to Rs 28.23 crore in the quarter ended December, according to an exchange filing. A Bloomberg poll of analysts' estimates pegged the net profit at Rs 16.46 crore.
V-Mart Retail Ltd Q3 Results Highlights (Consolidated YoY)
Revenue up 14.43% at Rs 889.05 crore. (Bloomberg estimate: Rs 888.94 crore).
Ebitda up 15.44% at Rs 119.69 crore. (Bloomberg estimate: Rs 106.04 crore).
Margin up 11 bps at 13.46% vs 13.34% (Bloomberg estimate: 11.90%).
Net profit up 41.36% at Rs 28.23 crore. (Bloomberg estimate: Rs 16.46 crore).
Shares of the company surged 14.99% to Rs 2,416.0 apiece, the highest level since Aug 11, 2023. It pared gains to trade 9.09% higher at Rs 2,292.00 apiece as of 09:56 a.m. This compares to a 0.28% advance in the NSE Nifty 50 Index.
It has risen in 12.99% in 12 months. Total traded volume so far in the day stood at 64 times its 30-day average. The relative strength index was at 70.65, which implied the stock is slightly overbought.
Out of 19 analysts tracking the company, eight maintain a 'buy' rating, nine recommend a 'hold,' and two suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies an downside of 8.6%.
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