V-Mart Retail Hits Two-Year High On Swinging Back To Profit In Q1
The stock rose as much as 14% during the day to Rs 3,733.50 apiece on the NSE.
Shares of V-Mart Retail Ltd. surged 14% on Tuesday to the highest in over two years after it posted a net profit in the first quarter of the current financial year in comparison to a loss in the year-ago period.
The company reported a net profit of Rs 12 crore for the three months ended June as compared to Rs 22 crore loss in the same period last fiscal, according to an exchange filing. Analysts tracked by Bloomberg had estimated the net loss at Rs 15.5 crore.
V-Mart Q1 FY25 Earnings Highlights (YoY)
Revenue up 16% to Rs 786 crore versus Rs 679 crore (Bloomberg estimate Rs 786 crore).
Ebitda up 87% to Rs 99 crore versus Rs 53 crore (Estimate: Rs 74.1 crore).
Margin at 12.6% versus 7.8% (Estimate: 9.4%).
Net profit at Rs 12 crore versus loss of Rs 22 crore (Estimate: net loss of Rs 15.5 crore).
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On the NSE, V-Mart's stock rose as much as 14% during the day to Rs 3,733.50 apiece, the highest since April 6, 2022. It was trading 10.25% higher at Rs 3,610.70 per share, compared to a 1.1% rise in the benchmark Nifty 50 as of 9:49 a.m.
The stock has risen 57.22% in the last 12 months and 79.58% so far this year. The total traded volume so far in the day stood at 21 times its 30-day average. The relative strength index was 69.31.
Out of the 18 analysts tracking the company, 12 have a 'buy' rating on the stock, five suggest 'hold' and one recommends 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 29.4%.
