V-Mart Retail reports 22.8% Y-o-Y increase in net profit in Q3,FY26
23 January 2026, Mumbai
V-Mart Retail successfully navigated a shifting festive calendar to report a 22.8 per cent Y-o-Y increase in net profit, reaching Rs 87.99 crore for the quarter ended December 31, 2025. This record performance was underpinned by a 9.7 per cent rise in revenue to Rs 1,126 crore, fueled by robust consumption in India’s ‘Bharat’ markets. Despite a sequential increase in expenses to Rs 1,015 crore, the company expanded its operating margins to 18.6 per cent - the highest in eight quarters. This margin expansion suggests that the value retailer is effectively leveraging its supply chain and scale to offset rising operational costs, including a Rs 2.11 crore exceptional charge related to new national labor codes.
Strategic network expansion and format performance
A critical driver of this quarter's success was the continued aggressive footprint expansion, with V-Mart adding 23 new stores to reach a total of 554 locations across India. While the core V-Mart format saw flat same-store sales growth (SSSG), the ‘Unlimited’ segment outperformed with a 2 per cent SSSG and a 15 per cent revenue jump. The company’s digital marketplace, though currently a smaller contributor at Rs 10.67 crore, has successfully halved its losses. The convergence of festive demand and operational discipline has allowed us to maintain leadership in the value segment, notes Lalit Agarwal, Managing Director as the company prepares to capitalize on projected double-digit growth in Tier II and III cities through 2026.
V-Mart is a leading value fashion retailer primarily serving Tier II and III cities in India. The company offers affordable apparel and lifestyle products with an average price point of Rs 350. Currently operating 554 stores, V-Mart aims for an 18 per cent revenue CAGR through 2028, boosted by rising rural disposable incomes.
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