V-Mart's Q1 net profit trebles

V-Mart Retail has reported an over two-fold jump in its net profit at Rs 223.5 crore for the June quarter. The company had posted a net profit of Rs 93.6 crore during the same period of the previous fiscal.
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V-Mart Retail, which is a multi-brand retail chain, has reported an over two-fold jump in its net profit at Rs 223.5 crore for the June quarter. The company had posted a net profit of Rs 93.6 crore during the same period of the previous fiscal, V-Mart Retail said in a BSE filing. Total income during the quarter under review stood at Rs 3,162.3 crore as against Rs 2,285.6 crore in the year-ago period, up 38.35 per cent. V-Mart Retail CMD Lalit Agarwal attributed the profit to longer marriage season and preponement of Eid festivities from the second quarter. On the outlook, he said: "Though the upcoming quarter is the weakest quarter in the Indian retail industry, our business outlook remains positive and V-Mart looks forward to grow consistently." Stock of the company closed 0.31 per cent higher at Rs 1,220.60 apiece on BSE.

 

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