India's V-Mart Retail slips 5% to 30-mth low as Q4 net loss widens

V-Mart Retail

17/05/2023 08:17

** Shares of V-Mart Retail Ltd  VMAR.NS  fall as much as
4.98% to 1,995 rupees, a 30-month low
    ** Q4 net loss widens to 369.60 mln rupees from 26.13 mln
rupees a year ago; core profit more than halves to 229.28 mln
rupees; core profit margins contract to 3.86% from 10.96% 
    ** Revenue up 29% Y/Y but 39% uptick in total costs offsets
sales gains
    ** Stock most active in over a month; trading volume at
113,867 shares as of 12:37 p.m. IST, thrice the 30-day avg -
Refinitiv data
    ** Of 19 analysts tracking VMAR, 14 maintain "buy", one
suggests "sell" and four recommend "hold"; median TP is 3,010
rupees 
    
      ($1 = 81.7800 Indian rupees)
    
      

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))