V-Mart Retail Q3 Updates: Revenue Up 16% To Rs 1,027 Crore
In 2024, the company opened 49 stores and closed five stores, bringing the total number of stores to 488.
V- Mart Retail Ltd. recorded a revenue of Rs 1,016 crore for the third quarter of the current fiscal, while the Lime Road digital marketplace — the online arm of the company — reported a revenue of Rs 11 crore, making a total revenue of Rs 1,027 crore.
The company had reported a revenue of Rs 872 crore in the third quarter of the last financial year and its digital arm noted a revenue of Rs 17 crore, bringing the total to Rs 889 crore, according to the exchange filing on Thursday.
The company has opened 21 new stores while no store of V- Mart closed during the quarter. This includes eight stores in Uttar Pradesh, six shops in Bihar, two in Manipur and one each in Odisha, Assam, Tripura, Karnataka and Tamil Nadu.
In 2024, the company opened 49 stores and closed five stores, bringing the total number of stores to 488.
Shares of V- Mart Retail closed 0.64% lower at Rs 3,862.45 apiece on the National Stock Exchange, compared to a 1.88% advance in the benchmark Nifty. The share price has fallen 88.49% in the last 12 months.
Out of the 16 analysts tracking the company, eight have a 'buy' rating on the stock, five recommend 'hold' and three maintain 'buy', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 17.7%.
