V2 Retail slides after posting weak Q3 results

V2 Retail dropped 4.18% to Rs 386 at 11:18 IST on BSE after net profit declined 59.8% to Rs 13.67 crore on 0.3% fall in net sales to Rs 152.35 crore in Q3 December 2017 over Q3 December 2016.

The result was announced on Saturday, 3 February 2018. The stock had slumped 6.35% to Rs 402.85 on Friday, 2 February 2018, ahead of the announcement of results.

Revenue growth for the Q3 December 2017 was flat due to shift of festive season and delay in opening of new stores.

Meanwhile, the S&P BSE Sensex was down 240.90 points or 0.69% at 34,825.85. The S&P BSE Small-Cap index was down 189.08 points or 1.06% at 17,658.45, underperforming the Sensex.

On the BSE, 17,058 shares were traded on the counter so far as against the average daily volumes of 58,745 shares in the past one quarter. The stock had hit a high of Rs 391.50 and a low of Rs 371 so far during the day. The stock had hit a 52-week high of Rs 555.45 on 12 December 2016. The stock had hit a 52-week low of Rs 151 on 3 February 2017.

The stock had underperformed the market over the past 30 days till 2 February 2018, falling 13.18% compared with 3.71% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 21.27% as against Sensex's 4.45% rise. The scrip had, however, outperformed the market in past one year, jumping 157.91% as against Sensex's 24.23% rise.

The small-cap company has equity capital of Rs 33.92 crore. Face value per share is Rs 10.

V2 Retail is one of the fastest growing retail groups in India.

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