V-Mart Retail slips after fire accident at Kanpur store

Image
Capital Market
Last Updated : Jan 17 2023 | 10:04 AM IST

V-Mart Retail fell 1.43% to Rs 2767.55 after a fire accident took place at one of the company's store at Kanpur in Uttar Pradesh on Monday, 16 January 2023.

V-Mart Retail clarified that there was no loss or injury to human life. However, this has resulted in damage of inventory, fixed assets, cash and others in the store, thereby disrupting the operations of the aforementioned store. The company said that it has adequate insurance coverage and have already informed the insurance company about the incident. The company is in process of ascertaining the actual loss caused due to the fire.

Founded in 2002, V-Mart isacomplete family retail store chain offering apparel, footwear and accessories for men, women and kids. The company also offers a wide range of home furnishings, general merchandise, toys, tableware, utensils, and other home utility items.

V-Mart Retail reported net loss of Rs 11.31 crore in Q2 September 2022 as against net loss of Rs 14.14 crore in Q2 September 2021. Net sales rose 49.76% YoY to Rs 506.16 crore in Q2 September 2022.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 17 2023 | 9:46 AM IST

Next Story