V2 Retail posts robust numbers for Q3FY19

V2 Retail Limited reported its results for the quarter ended December 30, 2018 on Friday.

The company's standalone revenue for the quarter came in at Rs. 241.07 crore as against Rs. 152.35 crore in the corresponding quarter last year, registering 58.2 per cent YoY increase. As per the management, the revenue growth was driven by festive season which included Durga Puja and Navratra, Diwali and wedding season.

The EBITDA for the quarter rose by 34.7 per cent YoY to Rs. 30.55 crore as against Rs. 22.68 crore in the corresponding quarter last year, with a corresponding margin contraction of 221 bps. EBITDA margin for the quarter stood at 12.7 per cent.

The PAT for the quarter came in at Rs. 23.59 crore as against Rs. 13.66 crore in the corresponding quarter last year, YoY increase of 72.7 per cent.

During the quarter, the company opened six new stores and closed two stores. It operates 74 stores spread across 17 states and 69 cities with the total retail area of more than 8.75 lakh sq.ft. The company intends to focus on Tier 2 and Tier 3 cities which have large potential.

On Friday, the stock had closed at Rs 272.65 per share and reacting to the results on Monday, it opened gap-up at Rs. 285 per share, a surge of 4.5 per cent.