V2 Retail Q3 Business Updates: Revenue From Operations Surges 58%
V2 Retail Ltd. reported on Thursday an 58% annual growth in its standalone revenue from operations to Rs 591.03 crore in the quarter ended December.
The fashion delivery firm had reported a standalone revenue of Rs 373.76 crore in the third quarter of financial year 2024. Revenue for the same period in fiscal 2023 stood at Rs 239.66 crore, while it was Rs 238.89 crore in the December quarter of fiscal 2022.
The company reported same-store sales growth of approximately 25% in the third quarter of fiscal 2025 as compared to the third quarter of fiscal 2024. The firm said that this reflected strong consumer demand and operational efficiency.
V2 Retail reported that it had made Rs 1,219 crore in sales per square foot for the third quarter of fiscal 2025. Sales for the same period in fiscal 2024 stood at Rs 1,085 crore, while it was Rs 739 crore in the December quarter of fiscal 2023. Sales aggregated to Rs 765 crore in fiscal 2022 in the year-ago period.
The total number of stores opened was 160 as of Dec. 31, 2024, with 21 new store openings during the aforementioned quarter. The company reported its total retail area to be approximately 17.22 lakh sq. ft.
Standalone Revenue for nine months ending Dec. 31, 2024, from operations grew by 59% to Rs 1,385.19 crore. This surpassed the full-year revenue from operations in fiscal 2024.
The company had same-store sales growth of approximately 31% across nine months of fiscal 2025.
Sales per square foot per month was at Rs 1,069 crore as compared to Rs 862 crore in nine months of Fiscal 2024. The firm opened 45 new stores and closed two stores during the nine months of fiscal 2025.
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