V-Mart Retail shares rose sharply today i.e. on Tuesday. The news of the company turning a profit from loss in the June quarter has raised the enthusiasm of investors to the seventh sky. V-Mart shares opened with a surge, jumping 14 per cent to Rs 3733.50 shortly after the start of trading in the market. This is its new 52-week high. At the time of writing the news, V-Mart shares were trading at Rs 3358.10 (V-Mart Retail share Price) with a gain of 2.54 per cent.
V-Mart Retail has turned a profit from loss in the June 2024 quarter. In the first quarter of the current financial year, the company has made a net profit of Rs 12.14 crore. V-Mart had a loss of Rs 21.94 crore in the same period last year. The company's revenue also grew by 15.9 percent to Rs 786 crore in the June quarter, from Rs 678.5 crore in the same period last year. The company's EBITDA margin stood at 12.6 percent in the April-June 2024 quarter.
The company has told the stock markets that it is focused on its store expansion plan and opened 7 new stores in the April-June 2024 quarter. Also, 3 underperforming stores were closed. By the end of the quarter, the number of V-Mart Retail stores across India was 448.
Promoters have 44 percent stake
As per the shareholding pattern of June 2024, promoters hold 44.33 percent stake in V-Mart. V-Mart stock has strengthened by about 60 percent in the last 6 months. This stock has jumped 66 percent so far in the year 2024. In one year, this stock has given 46 percent return to investors. The company's shares have seen a tremendous rise in the last 2 months. The company's shares have jumped more than 70 percent in 2 months.
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