PR Newswire | 01 Aug, 2013
NEW DELHI: V-Mart Retail Ltd. announced its unaudited financial results for the quarter ended June 30, 2013, which were approved by the company's board of directors at its meeting held earlier on July 30, 2013.
For the quarter ended June 30,2013, the company reported a growth in profit after tax (PAT) of 36.05 per cent YoY. In the quarter, the company's overall EBIDTA grew by 26.59 per cent YoY. The company improved the sales target of 32.75 per cent in the Q2 of FY 2014
Speaking on the occasion, Mr. Lalit Agarwal, Chairman & Managing Director, V-Mart Retail Ltd, said, "We continue to remain upbeat about our growth plans. We are overwhelmed by the kind of response we have received from our customers. Buoyed by the good response from our existing stores, we have plans to open 18 more stores in 2014." The retail chain plans to replicate its success in other Tier-II and Tier-III cities as well.
In view of the sales and profit achieved by the company, the board of directors have revised the earlier recommended proposed dividend from Re. 1 per share on pro-rata basis to Re. 1 per share on pari-passu basis in the meeting held on July 30, 2013.
Mr. Agarwal added that the retail chain would continue to attract footfalls through its lucrative schemes and offers. Overall, the industry is on the cusp of a new growth phase. This phase shall not restrict itself to the metros but has already seeped into interiors and smaller and new towns and cities. The demand is improving in almost all markets. Today, India is one of the most favoured retail markets in the world.
The company will promote various exciting offers during this season like the 'Kids Summer Carnival', 'Father's day', 'Jeans Fest', 'Wedding Collection' and 'Back to School'. These campaigns have always been warmly welcomed by customers.
About V-Mart Retail Limited (VMRL):
Incorporated in 2002, V-Mart is a medium-sized hypermarket format retail chain based in New Delhi. They are multi-brand family store offering apparels, general merchandise and kirana bazar. VMRL has established stores in Metros, Tier-I, Tier-II and Tier-III cities, which are primarily located as standalone stores in high-street areas and shopping hubs of such cities. The average size of store is approximately 8,000 sq. ft. The company follows the concept of "value retailing" to target the strata of the population belonging to the expanding aspiring class and middle class and is based on customer's socio economic conditions, purchasing power, demographic details and customer trends. Its offerings in untapped markets provide customers with a different shopping experience, comprising of a vast range of value retail products under a modern ambience and feel of a large retail mall. For more information, visit www.vmart.co.in [http://www.vmart.co.in ].
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