Retail profit falls 18% to Rs 47.87 crore, Retail News, ET Retail

NEW DELHI: Multi-manufacturer retail chain V-Mart Retail on Friday claimed a seventeen.77 per cent tumble in web financial gain to Rs 47.87 crore for the quarter finished on December 31, 2020, on account of lessen income. The corporation experienced posted a financial gain of Rs 58.22 crore for the corresponding time period of 2019-twenty.

The whole income for the duration of Oct-December 2020 stood at Rs 470.thirty crore, down sixteen.forty per cent as versus Rs 562.58 crore in the yr-back time period, V-Mart reported in a filing to the BSE.

V-Mart reported the Covid-19 pandemic has a major influence on the business operations and economical results of the corporation for the quarter and time period finished December 31, 2020.

“With easing lockdown and opening of financial activities, the corporation believes that the firm’s operations will maximize and expects the momentum to continue with an overall advancement in Covid-19 scenario,” it included.

Shares of V-Mart shut two.33 per cent higher at Rs two,531 apiece on the BSE on Friday.