VMART Shares Go Up
V-Mart Retail zoomed 19% to Rs 1,459 on BSE in intra-day trade after the company reported a more than double net profit of Rs 22 crore in June quarter (Q1FY18), on back of healthy operational performance. It had profit of Rs 9.37 crore in year ago quarter. V-mart Retail, a medium-sized hypermarket format retail chain based in New Delhi, had posted net profit of Rs 39.52 crore during the entire previous financial year 2016-17 (FY17).
Operational revenue during the quarter increased 39% to Rs 315 crore from Rs 227 crore in the corresponding quarter of previous fiscal. Earnings before interest, taxation, depreciation and (EBITDA) too grew 107% to Rs 37 crore over the previous year quarter. Ebitda margin expanded 380 bps to 11.75% in Q1FY8 from 7.92% in Q1FY17.
Though the upcoming quarter is the weakest quarter for the Indian retail industry, the company’s business outlook remains positive, V-mart Retail said in a press release.