V-Mart Retail Ltd, a value fashion retailer, recorded a net loss of Rs. 39 crore for the fourth quarter that concluded on 31st March, compared to a net loss of Rs. 37 crore during the same time last year.
Compared to the same quarter in the previous fiscal year, when it was Rs. 594 crore, the company’s sales for the current quarter increased by 13 per cent to Rs. 669 crore. V-Mart declared a net loss of Rs. 97 crore on revenue of Rs. 2,786 crore for the entire fiscal year 2024.
“The same store sales grew by 6 per cent year-on-year for the quarter with better festive and wedding season led footfall growth. The company remains focused on its store expansion plan and has opened 46 new stores in FY ’24 and closed 25 underperforming stores, taking the total number of stores pan-India to 444 as at year end,” V-Mart Retail said in a statement.
Founded in 2002, V-Mart Retail is an omni retail store chain offering fashion apparel, footwear, home furnishings and general merchandise.
