V-Mart reports 24.05 percent rise in Q1 net profit

Multi-brand retail chain V-Mart has posted a 24.05 percent increase in standalone net profit at Rs 11.19 crores for the quarter ending June 30, 2015. The company had posted a net profit of Rs 9.02 crore during the April-June period of 2014-15 fiscal.

V-Mart's total income from operations during the quarter under review increased 24.01 percent to Rs 204.66 crores as against Rs 165.03 crores during the same period of last fiscal, the company said in a statement. “During this quarter, the focus was on sustaining top line growth. This quarter has been seen a moderation in customer demand and we expect the same mood to follow through the next quarter too,” said V-Mart Retail Chairman and Managing Director Lalit Agarwal.

The company now plans to launch trendy products in bright shades for the young generation. Elaborating on the plans, Agarwal said, “We are planning to introduce fashionable sweatshirts with hoods, zippers, kangaroo pockets and heavy prints, and a special range of cardigans with prints for ladies. For girls, we have apparels with applique work and stone embellishment.”

Following the list of physical retailers, who are launching their ecommerce ventures, now even V-Mart has decided to go online next year. The company will launch its mobile app-based platform to sell products under its portfolio.