V2 Retail Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2023
May 25, 2023 at 07:18 am EDT
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V2 Retail Limited reported earnings results for the fourth quarter and full year ended March 31, 2023. For the fourth quarter, the company reported sales was INR 1,934.33 million compared to INR 1,582.54 million a year ago. Revenue was INR 1,955.59 million compared to INR 1,619.1 million a year ago. Net loss was INR 77.06 million compared to INR 95.11 million a year ago. Basic loss per share from continuing operations was INR 2.24 compared to INR 2.77 a year ago. Diluted loss per share from continuing operations was INR 2.24.
For the full year, sales was INR 8,388.83 million compared to INR 6,292.25 million a year ago. Revenue was INR 8,455.52 million compared to INR 6,451.14 million a year ago. Net loss was INR 128.17 million compared to INR 116.77 million a year ago. Basic loss per share from continuing operations was INR 3.73 compared to INR 3.4 a year ago. Diluted loss per share from continuing operations was INR 3.73.
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.