Vishal Mega Mart Ltd on January 31 reported a 27.9 percent jump in consolidated net profit at Rs 262.72 crore in the quarter ended December 31 of the current financial year, compared to Rs 205.36 crore in the same period of the previous financial year, the stock exchange filing showed.
The supermarket chain had posted a net profit of Rs 103.9 crore in the September quarter, the filing showed.
The firm’s revenue from operations jumped 19.5 percent to Rs 3,135.94 crore in the reported quarter over Rs 2,623.55 crore in the year-ago period, the filing showed. It stood at Rs 2,436.22 crore in the September quarter.
The company operates 668 stores across 432 cities with a total retail area of approximately 11.8 million square feet, the firm’s statement said. In the April to December period, the apparel section contributed 45 percent of the overall share, while general merchandise was 28 percent and FMCG came in at 27 percent, the company statement said. It also said that the chain has a “large and loyal consumer base of around 141 million as on December 31, 2024”.
“Despite subdued demand conditions in the consumer industry, we delivered a robust financial performance, achieving revenue growth of 19.5 percent in Q3FY25 and 19.4 percent in 9MFY25 taking the revenue from operations to Rs. 3,135.9 crore and Rs 8,68.5 crore respectively,” said Gunender Kapur, managing director and chief executive officer.
“We focus on the middle and lower-middle income groups in India, representing the largest consumer segment in India. Our consumer centric approach, coupled with an enhanced consumer value proposition, a unique merchandise mix at attractive price points, and enhanced in-store experience, has helped drive strong SSSG of 10.5 percent in Q3FY25 and 11.3 percent in 9MFY25,” Kapur added.
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