V-Mart Retail declined 2.40% to Rs 2,632 after the company's net profit slumped 65% to Rs 19.97 crore in Q3 FY23 as against Rs 57.11 crore posted in Q3 FY22.
Revenue from operations rose 12.3% year on year (YoY) to Rs 776.88 crore in the quarter ended 31 December 2022.Profit before tax stood at Rs 26.41 crore in Q3 FY23, falling 65.4% on YoY basis.
EBITDA de-grew 23% year on year to Rs 104 crore in Q3 FY23 as compared with Rs 135 crore reported in Q3 FY22.
During the quarter, total expenses jumped 21.5% YoY to Rs 751.17 crore. Employee benefits expense was Rs 76.28 crore (up 42.58% YoY) while finance costs stood at Rs 30.69 crore (up 45.04% YoY) during the period under review.
The company opened 15 new stores including 1 store in the South, and closed 6 stores, during the quarter, taking the total store count to 414 as on 31 December 2022.
During the quarter, the same store sales growth (SSSG) slipped to 1% in Q3 FY23 as against 10% in Q3 FY22.
V-Mart is an omni retail store chain for the complete family, offering fashion apparel, footwear, home furnishings, general merchandise and kirana.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
Great minds don’t just skim the surface, they uncover the full story.
You’ve hit your limit of {{free_limit}} free articles this month, subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Months/month
Smart Essential
₹2,700
1 Year
₹225/Months/month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Unlimited access to all articles
30+ premium stories daily, handpicked by our editor


Complimentary Access to The New York Times
News, Games, Cooking, Audio
Wirecutter & The Athletic
Complimentary Access to Our e-Paper
Digital replica of our daily newspaper
Read, save, share any article


Curated Newsletters on Diverse Topics
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Smart Investment Tips
In-depth stock analysis & insights
The Smart Investor for wealth growth tips


Access to Extensive Historical Archives
Repository of articles and publications dating back to 1997
Ad-free Reading Experience
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Repository of articles and publications dating back to 1997