V2 Retail Q3 FY22 results posted

V2 Retail Q3 FY22 results posted

19th February 2022, Mumbai:

The net profit of V2 Retail declined by 17 per cent to Rs 12 crore during the third quarter ended December as against Rs 15 crore in the year-ago period.

However, the company revenue during the quarter increased by Rs 239 crore, as against Rs 227 crore it reported in the corresponding period of the previous fiscal year.

Ram Chandra Agarwal, Chairman and Managing Director, says, demand in the festive season of October and November, however, demand tapered sharply post December 15 and till January 2022 due to restrictions imposed by various state governments in the wake of third wave of COVID-19.

Ram Chandra Agarwal, Chairman & Managing Director, V2 Retail Ltd -  Indiaretailing.com

ALSO READ: Aditya Birla Fashion & Retail (ABFRL)’s: New age digital brands to contribute constructively to its revenue in 5 years

The recovery will be sharper with the onset of the festive season in coming months, Agarwal adds, The company kept all its stores operational during the quarter. It continues to emphasize on private brands and opened one store during the quarter.

Currently, V2 Retail has 97 stores across India. It plans to open 5 stores during the fourth quarter to end the fiscal year with over 100 stores.

 

Follow us on Linkedin & Youtube.

Subscribe to our daily e-newsletter.

Author’s Posts

  • Tamil Nadu Textile Sector Begins Strong Recovery

    Tamil Nadu Textile Industry Shows Signs of Recovery
    After ...

    May 22, 2025

  • Shahid Kapoor Joins Taapsee Pannu for Vogue Eyewear India

    BRAND ANNOUNCEMENT | VOGUE EYEWEAR WELCOMES SHAHID KAPOOR, WHO JOINS TAAPSEE PANNU AS ITS BRAND AMBAS...

    May 22, 2025

  • 3rd Morocco International Yarn & Fabric Sourcing Show 2025

    3rd Morocco International Yarn & Fabric Sourcing Show 2025

    May 13, 2025

  • India’s Apparel Exports: Big Potential, Low Share

    Despite having the world’s second-largest vertically integrated textile industry, India’s share...

    May 05, 2025

  • CITI: India must engage U.S. on tariffs

    "Bridging the Information Gap in the Textile and Fashion Industry."

    DFU
    Inside Fashion Vol. 23 No. 2
    Azad
    EasiTex