V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported increase in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company’s EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).
V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported 106 per cent growth in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company's EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).#
“Notwithstanding the pandemic, we did reasonably well in Q4. The business prepped up quickly. The company secured 110 per cent of the corresponding sales for the same quarter of FY'20-'21. We managed to achieve footfall recovery of over 80 per cent for the quarter as a whole. We are also well poised as far as inventory levels and freshness is concerned, with strong sales without much discounting,” Lalit Agarwal, CMD at V Mart, said in a press release.
V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported 106 per cent growth in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company's EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).#
“V-Mart is concentrating on quicker mind-to-market strategies as far as fashionable apparels are concerned. For instance, our range of streetwear, sweatshirts, hoodies, and top-of-the-line ladies’ dresses. This is being done to meet the rising aspirations of the youth and younger families,” Agarwal added.
V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported 106 per cent growth in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company's EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).#
During the quarter, the company continued to embark on achieving its strategic transformation objectives, including digitisation and strengthening across the front-end and back-end operations with agility, prudence and customer centricity.
V Mart Retail, India's leading retail store chain offering fashion apparel and footwear, has reported 106 per cent growth in its total income to ₹356 crore during the fourth quarter (Q4) of FY21 ended on March 31, 2021, compared to ₹333 crore in the corresponding period of prior fiscal. The company's EBITDA for Q4 FY21 was ₹34 crore (Q4 FY20: ₹28 crore).#
“We are in the process of revitalising the omni platform by creative and compelling products and shopping experience as it could offer a tremendous boost to our overall sales going forward. Our internal team is working on improving the website and mobile app interface for a better customer experience,” Agarwal said in the release.
Fibre2Fashion News Desk (JL)