V-Mart Retail shares rose nearly 5 percent and hit a 52-week high of Rs 3,035 on July 3 buoyed by the company's robust quarterly updates, showcasing healthy revenue and same store sales growth.
At 10.10 am, shares of V-Mart Retail were trading at Rs 2,990 on the NSE.
The retailer's revenue rose 16 percent on year to Rs 790 crore in Q1 of FY25 led by same store sales growth (SSSG) of 11 percent and footprint addition.
SSSG for V-Mart (core) and Unlimited also improved for the third straight
quarter and stood at 12 percent and 8 percent, respectively, in June quarter. The healthy improvement in these two verticals also aided revenue growth for the retailer.
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Meanwhile, the company also added seven new stores (five V-Mart stores and two Unlimited stores) and closed three stores during the quarter under review, taking the total store count to 448 stores (370 V-Mart stores and 78 Unlimited stores).
V-Mart plans to open 50 new stores in FY25 and refurbish old stores on priority. The company is also focusing on LimeRoad's profitability, with management guiding to reduce expenses by 25–30 percent every quarter and aiming to achieve breakeven by FY25-end.
Accordingly, Limeroad's revenue was 29 percent on year in Q1, less than the previous quarters. Motilal Oswal Financial Services sees this in positive light, as it could curtail the consolidated EBITDA loss for V-Mart.
Moreover, V-Mart is also using LimeRoad to enhance omnification across the existing V-mart and Unlimited stores.
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