V2 Retail shines on opening of 35th store
DSIJ Intelligence / 07 Feb 2017
V2 Retail has started a new operational retail store in Itanagar, Arunachal Pradesh.
V2 Retail has started a new operational retail store in Itanagar, Arunachal Pradesh.
The company has 35 operational retail stores in total. On January 30, it opened two more operational retail stores in Silchar (Assam) and Agartala (Tripura).
On the financial front, V2 Retail's revenue increased 51 per cent to Rs 364 crore in 9MFY17 as compared to same period in previous financial year. The company's earnings before interest, tax, depreciation and amortisation (EBITDA) too rose 39 per cent to Rs 41.9 crore in 9MFY17 on yearly basis. Its profit after tax (PAT) boosted more than two and half times to Rs 39 crore in 9MFY17 as compared to same period in the previous fiscal year.
During third quarter of FY17, V2 Retail has sold its property at Kolkata for Rs 18.38 crore and had gain Rs 8.19 crore. The company proceeds the preferential issue, sell of property and internal accruals were used to reduce the outstanding loans.
The share price of V2 Retail increased 8.93 per cent on bourses in early trade and is trading at Rs 163.65 in an intraday basis. The company's share price rose by 38.52 per cent within one month.
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