V-Mart Retail Q2 Results: Loss Narrows To Rs 58 Crore

V-Mart Retail Ltd. on Tuesday reported narrowing down of its net loss to Rs 57.99 crore for the September quarter.

The company had posted a net loss of Rs 86.42 crore in the July-September quarter of the previous fiscal year, according to a regulatory filing from V-Mart, a value retailer.

Its revenue from operations was up 20.3% to Rs 660.97 crore in the September quarter from Rs 549.43 crore in the year-ago period.

V-Mart's total expenses in the September quarter were up 13% to Rs 720.73 crore.

The total income of V-Mart, which includes other income, in the September quarter, was at Rs 662.74 crore, up 20.18%.

"The same-store sales grew 15% year-on-year and the inventory stood at Rs 912 crore. The company remains focused on its store expansion plan and has opened 21 new stores in the second quarter of the fiscal and closed 2 underperforming stores, taking the total number of stores pan-India to 467 as at quarter end,' said an earning statement from the company.

V-Mart's revenue from its 'Retail Trade' was at Rs 650.57 crore and Rs 10.40 crore from digital market place.

Shares of V-Mart Retail Ltd. on Tuesday settled at Rs 4,450.30 apiece, up 1.43% from the previous close.