V2 Retail Limited Reports Unaudited Standalone Earnings Results for Third Quarter and Nine Months Ended Dec. 31, 2016
January 26, 2017 at 12:12 am IST
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V2 Retail Limited reported unaudited standalone earnings results for third quarter and nine months ended Dec. 31, 2016. For the quarter, the company reported net sales/income from operations (net of excise duty) of INR 1,528.132 million, profit from operations before other income, finance costs and exceptional items of INR 155.201 million, profit from ordinary activities before tax of INR 378.2 million, net profit of INR 333.778 million, diluted per share after extraordinary items of INR 12.04 compared to the net sales/income from operations (net of excise duty) of INR 981.408 million, profit from operations before other income, finance costs and exceptional items of INR 120.844 million, profit from ordinary activities before tax of INR 131.649 million, net profit of INR 96.724 million, diluted per share after extraordinary items of INR 2.8 for the same quarter a year ago.
For the year to date, the company reported net sales/income from operations (net of excise duty) of INR 3,642.202 million, profit from operations before other income, finance costs and exceptional items of INR 313.491 million, profit from ordinary activities before tax of INR 482.932 million, net profit of INR 390.099 million, diluted per share after extraordinary items of INR 14.07 compared to the net sales/income from operations (net of excise duty) of INR 2,405.52 million, profit from operations before other income, finance costs and exceptional items of INR 269.589 million, profit from ordinary activities before tax of INR 227.66 million, net profit of INR 146.511 million, diluted per share after extraordinary items of INR 4.24 for the same period a year ago.
V2 Retail Limited is an India-based retail chain company. The Company is engaged in the business of retail trade of garments, textiles and accessories. The Company offers a portfolio of products, including apparel and lifestyle products. The Company is focused on northern and eastern India. It caters to the neo middle class group of population living in Tier 2 and Tier 3 cities. Its product portfolio mix includes men's wear, such as upper, lower, occasion wear, winter wear, sportswear, formal and casual; ladies wear, such as ethnic wear, upper, lower, occasion wear, winter wear and sportswear; kids wear, such as boy, girls, infants and winter wear, and lifestyle, such as deodorants, wallets, sunglasses and ladies purse, among others. The Company owns approximately 105 retail stores in 17 states in India. Its brands include ebellia, Glamora, GODSPEED, HERRLICH and Honey Brats. The Company's subsidiary, V2 Smart Manufacturing Private Limited, is engaged in the manufacturing of apparels.