V2 Retail Q3 update: revenue jumps 57% as store expansion drives growth

V2 Retail reported a robust performance in its third-quarter business update, driven by higher revenue and store expansion.

The company’s standalone revenue rose 57% year-on-year to ₹927 crore during the December quarter. The growth was supported by steady demand across its core markets and continued focus on expanding its physical retail footprint.

V2 Retail reported same-store sales growth of 2% on a year-on-year basis, indicating stable performance from its existing stores despite a challenging consumption environment in parts of the retail sector.

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During the quarter, the company added 35 new stores, strengthening its presence across key markets. The expansion was primarily targeted at Tier 2 and Tier 3 cities, in line with the company’s strategy to tap consumption-driven demand in smaller towns and emerging urban centres.

The company has been expanding its network to capture growth opportunities arising from rising disposable incomes and increasing preference for organised retail in non-metro markets.

The shares ended 0.40% lower at ₹2,440 on Friday, as of 3:30 pm.

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