V-Mart Retail posts Rs 22 crore net loss in Q1 for quarter ending June

V-Mart Retail on Wednesday reported a net loss of Rs 21.94 crore in the June quarter.

It had reported a net profit of Rs 20.45 crore in the April-June period a year ago, V-Mart said in a regulatory filing.

However, its revenue from operations was up 15.41 per cent to Rs 678.52 crore in the first quarter of the ongoing fiscal as against Rs 587.88 crore in the year-ago period.

"The company's EBITDA margin stood strong at 13 per cent of revenue excluding the loss contributed from the newly acquired Limeroad marketplace segment," an earning statement from V-Mart Retail said.

EBITDA refers to Earnings Before Interest, Taxes, Depreciation and Amortisation.

Total expenses of the value fashion retailer were up 25.67 per cent to Rs 708.99 crore in the first quarter of FY 2023-24.

In the June quarter, its total income was at Rs 680.02 crore, up 14.87 per cent.

The company continued its store expansion plan and opened 9 new stores in the June quarter, taking the total count to 431.

Shares of the company rose 3.55 per cent to close at Rs 2,392.70 apiece on the BSE.