V-Mart Q1 net up 24% at Rs 11.19 crore

Multi-brand retail chain V-Mart today reported 24.05 per cent increase in standalone net profit at Rs 11.19 crore for the quarter ending June 30, 2015.
The company had posted a net profit of Rs 9.02 crore during the April-June period of 2014-15 fiscal.
V-Mart's total income from operations during the quarter under review increased 24.01 per cent to Rs 204.66 crore as against Rs 165.03 crore during the same period of last fiscal, the company said in a statement.
"During this quarter, the focus was on sustaining top line growth. This quarter has been seen a moderation in customer demand and we expect the same mood to follow through the next quarter too," V-Mart Retail Chairman and Managing Director Lalit Agarwal said.

To cater to the weak buying mood, the company is focusing on a product range in budget price , Agarwal added.
"However as the monsoon is panning out fairly well till date, we expect the mood to turn for the better during the 3rd quarter festive season," he said.

On the outlook of the company, he said V-mart would launch products for the young and trendy youth with flashy colours.
"Also we are looking to introduce fashionable sweat shirts with hoods, zippers, kangaroo pockets and heavy prints, and a special range of cardigans with prints for ladies. For girls, we have apparels with Applique work and stone embellishment," he said.

Shares of V-Mart today settled at Rs 516.5 on BSE, up 5.86 per cent from its previous close.