V-Mat Retail Q2 Net increases two-fold to Rs 2.81 cr

Company reported net profit of Rs 1.3 crore in the same quarter a year ago

V-Mat Retail Ltd today reported over two fold increase in net profit at Rs 2.81 crore for the second quarter ended September 30, 2013.

The company had reported net profit of Rs 1.3 crore in the same quarter a year ago.

V-Mart's net sales in the quarter under review went up by 53.52% at Rs 122.02 crore as against Rs 79.48 crore in the same period last year, the company said in a BSE filing.

Overall expenses in the quarter were at Rs 116.7 crore, an increase of 53.61% compared with Rs 75.97 crore in the corresponding period last year.

In the half year period ended September 30, 2013, V-Mart's net profit increased by 52% at Rs 9.96 crore.

Shares of the company were last trading at Rs 227 apiece, down 0.90% over their previous close on BSE.