V-Mart Retail Q4 Business Update - Inline With Expectation; Limeroad A Worry: Nirmal Bang
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Nirmal Bang Report
V-Mart Retail Ltd. preannounced Q4 FY24 quarterly revenue yesterday post market hours.
Q4 is usually a seasonally weaker quarter QoQ due to the festive, winter and wedding seasons all coming together in Q3 each year.
Total revenue for the quarter at Rs 6.68 billion (up 12% YoY) was broadly in line with what we had estimated at the end of Q3 FY24 (Result Update).
The retail business (ex-Limeroad) delivered revenue of Rs 6.53 billion. The 12% YoY retail revenue growth has come from store expansion of 5% YoY and same store sales growth of +6% (V-Mart at +4% and Unlimited at +13%).
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