V-Mart Retail Shares Inch Higher As Company Posts Strong Q3 Results
V-Mart Retail's shares spiked over 12% after the company posted a sharp uptick in its net profit for the third quarter.
Shares of V-Mart Retail Ltd. rose over 12% on Tuesday after the company reported robust third-quarter results. The retailer's strong performance was highlighted by significant increases in revenue, Ebitda, and net profit.
V-Mart reported a 15.5% year-on-year increase in consolidated revenue, reaching Rs 1,027 crore compared to Rs 889 crore in the same period last year. The company's earnings before interest taxes, depreciation and amortisation rose by 43.2% to Rs 171 crore, up from Rs 120 crore, with the Ebitda margin improving to 16.7% from 13.5%.
The company's net profit saw a substantial jump to Rs 71.6 crore, compared to Rs 28.2 crore in the year-ago period.
The chart below shows how V-Mart shares reacted after the company posted its December quarter results.
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V-Mart's scrip rose as much as 12.65% to Rs 3,775 apiece on the NSE. However, it pared much of the gains to trade 4.61% higher at Rs 3,510 apiece, as of 2:10 p.m. This compares to a 1.32% advance in the NSE Nifty 50 Index.
The stock has risen 67% in the last 12 months. Total traded volume so far in the day stood at 3.6 times its 30-day average. The relative strength index was at 67.61.
Out of 16 analysts tracking the company, eight maintain a 'buy' rating, five recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 17.2%
