V-Mart clocks in 39 per cent increase in Q1 operations revenue

V-Mart’s Q1 operations revenue is up 39 per cent while EBITDA has risen 107 per cent. Profits after tax went up 139 per cent for Q1 FY18. Happy with the spectacular performance , CMD Lalit Agarwal, CMD says the quarter saw a longer marriage season and preponment of EID which helped boost growth. He acknowledged the efforts of team V-Mart for successful execution of GST and expressed gratitude to the entire vendor base for coming on-board the GST platform. V-Mart was GST ready and compliant on Day 1 of rollout in addition to being IndAS compliant. V-Mart opened eight new stores during the quarter taking its total store-count to 149 across 126 cities achieving same store sales growth of 23 per cent in value terms and 27 per cent in quantity terms.

V-Mart has been investing in building capabilities and capacities, though the upcoming quarter is the weakest quarter for Indian retail industry. In Q2, V-Mart’s focus will revolve around increasing depth of business i.e. increasing the quantity and unique product options across size range besides increasing the contribution of private labels, investing in technology and building up the organization across functions to offer more value to the customers.

A new design team has been set up to ensure latest design inputs in the season color palette along with forecast and silhouettes. V-Mart is excited to see the overwhelming support from the vendor community towards improving the product options at a store level, which hints at strong prospects for the growth of business.