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Whoa! Indian retailer V-Mart’s income soars 27%, profit jumps 14 %

V-Mart Retail, India’s ace value fashion retail company, has announced that its profits for the third quarter jumped 14 percent to Rs. 42 crore. Strong sales during the festive season from October to December 2018 were recorded which bolstered profits.

The company’s 2017-third-quarter net profit was Rs. 37 crore. Its revenue from operations surged 15 percent to Rs. 468 crore as compared to Rs. 369 crore last fiscal.

Lalit Agarwal, Chairman and Managing Director, said that the execution of fresh product ideas and customer connect amplified sales, coupled with strong festive demand in the markets.

“V-Mart was well-prepared and well-positioned to tap into this opportunity in all its key markets, delivering its value fashion promise with a wider and deeper assortment that resonated with the fashion aspirations of our customers,” he added.

The new stores in Assam and Meghalaya also performed well. Also, the company reached the 200-store milestone in December 2018 by opening 10 new stores during the quarter.

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