V-Mart Retail opens 17 new stores and closes eight existing stores

The fourth quarter of fiscal year 2022-23 saw V-Mart Retail Ltd open 17 new stores, while closing eight existing ones.

A regulatory filing by V-Mart lists 17 new stores, of which five are in Uttar Pradesh, two in Assam, Telangana, Tamil Nadu and West Bengal, and one each in Gujarat, Kerala, Odisha and Madhya Pradesh.

Out of the eight stores that were closed in Q4, two were located in Uttar Pradesh, and one each in Bihar, Tamil Nadu, Karnataka, Madhya Pradesh, Gujrat and Manipur.

On the NSE, V-Mart shares closed at Rs 2,162 apiece during the final trading session of FY23, up 1.2 percent over the previous day.

The company reported a 65 percent drop in its third-quarter profit, which was Rs 20 crore as compared to Rs 57.1 crore a year earlier. Despite this, revenue jumped 12 percent to Rs 777 crore from Rs 692 crore in the previous fiscal.