V-Mart posts two-fold rise in Q1 net profit at Rs 223 cr

Multi-brand retail chain V-Mart Retail today reported an over two-fold jump in its net profit at Rs 223.5 crore for the June quarter.

The company had posted a net profit of Rs 93.6 crore during the same period of the previous fiscal, V-Mart Retail said in a BSE filing.

Total income during the quarter under review stood at Rs 3,162.3 crore as against Rs 2,285.6 crore in the year-ago period, up 38.35 per cent.

V-Mart Retail CMD Lalit Agarwal attributed the profit to longer marriage season and preponement of Eid festivities from the second quarter.

On the outlook, he said: "Though the upcoming quarter is the weakest quarter in the Indian retail industry, our business outlook remains positive and V-Mart looks forward to grow consistently."

Stock of the company closed 0.31 per cent higher at Rs 1,220.60 apiece on BSE.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)