V-Mart Retail scales record high after stellar Q1 outcome

V-Mart Retail jumped 17.07% to Rs 1,429 at 11:21 IST on BSE after net profit surged 138.63% to Rs 22.36 crore on 38.36% rise in total income to Rs 316.23 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours on Friday, 18 August 2017.

Meanwhile, the S&P BSE Sensex was down 24.51 points or 0.08% at 31,500.17. The S&P BSE Small-Cap index was up 18.75 points or 0.12% at 15,636.70.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 11,933 shares in the past one quarter. The stock hit a high of Rs 1,458.80 in intraday trade so far, which is record high for the counter. The stock had hit a low of Rs 1,326 so far during the day. The stock had hit a 52-week low of Rs 440 on 8 September 2016.

The stock had outperformed the market over the past one month till 18 August 2017, rising 1.48% compared with the Sensex's 0.59% fall. The scrip also outperformed the market over the past one quarter, gaining 29.32% as against the Sensex's 3.58% rise. The scrip had also outperformed the market over the past one year, surging 139.33% as against the Sensex's 12.09% rise.

The small-cap company has equity capital of Rs 18.10 crore. Face value per share is Rs 10.

V-Mart Retail CMD Lalit Agarwal attributed good Q1 June 2017 performance to longer marriage season and preponement of Eid festivities from the second quarter. During the quarter, the company has opened eight new stores taking its total store-count to 149 across 126 cities achieving same store sales growth of 23% in value terms and 27% in quantity terms.

In its outlook, V-Mart Retail said that the company has been investing in building capabilities and capacities. In Q2 September 2017, V-Mart's focus will revolve around increasing depth of business i.e. increasing the quantity and unique product options across size range besides increasing the contribution of private labels, investing in technology and building up the organization across functions to offer more value to the customers.

V-Mart Retail is a medium-sized hypermarket format retail chain based in New Delhi. It is a multi-brand family retail store offering apparels, general merchandise and kirana.

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