Value fashion retailer V2 Retail Ltd reported a net loss of US $ 237,828 for the quarter ending September 2024, a significant improvement from the US $ 713,000 net loss in the same period last year. The company saw its revenue surge by 64 per cent to US $ 45.19 million, compared to US $ 27.47 million in the corresponding quarter of the previous fiscal year.
For the first half of FY ’25, V2 Retail’s net profit reached Rs 14 crore, a marked increase from Rs 50 lakh in H1 FY ’24. Chairman and Managing Director Ram Chandra Agarwal attributed the strong performance to strategic initiatives that boosted product development, store experience, and customer satisfaction.
Agarwal highlighted the robust demand during the ongoing festive season, expressing optimism about further growth in the upcoming wedding and winter seasons. The company added five new stores during the quarter and plans to continue expanding, with 22 new stores opened in the first half of the year, bringing the total to 139 as of 30th September 2024.
