Shares of V-Mart Retail soared 16 per cent in Thursday’s trade after the company posted a 40 per cent jump in December quarter profits. The multi-brand retail chain on Wednesday reported a net profit of Rs 58.22 crore for the quarter ended on December 31, 2019. The company had posted a net profit of Rs 41.68 crore for the corresponding period of 2018-19, V-Mart said in a filing to the BSE. The consolidated total income stood at Rs 562.58 crore for the quarter under consideration. It was Rs 467.55 crore for the same period a year ago. “In the statement of profit and loss for the current period, operating lease expenses have been changed from rent to depreciation charge. To this extent performance for the quarter and nine-month period ending December 31, 2019, is not comparable with the previous period results,” the company said.
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At 10.38 am, shares of the firm rose 15.62 per cent to Rs 2437.20 on BSE. V-Mart has given over 350 per cent return in the last three years. The stock has been gaining for the last six days and is up 47 per cent year-to-date.