New Delhi – V-Mart Retail Ltd, a prominent value retailer, has reported a net loss of Rs 64.12 crore for the second quarter ended September 2023. This is a significant increase compared to the net loss of Rs 11.31 crore incurred during the same period last year, as stated in a regulatory filing.
The company’s revenue from operations in the September quarter stood at Rs 549.43 crore, indicating growth from Rs 506.16 crore in the corresponding quarter. However, V-Mart Retail emphasizes that its results are not directly comparable due to the inclusion of LimeRoad’s digital marketplace, which was acquired the previous year.
With total expenses amounting to Rs 637.84 crore in the September quarter, V-Mart Retail faced substantial financial challenges. As a result, the company’s shares settled at Rs 1,702.45 apiece, reflecting a 0.46 percent decrease from the previous close.
Despite these losses, V-Mart Retail remains a prominent player in the retail industry. Steadfast in its commitment to delivering value to customers, the company continues to adapt and strategize for future growth.