The result was announced after market hours on Friday, 2 August 2019.

Meanwhile, the S&P BSE Sensex was down by 501.52 points or 1.35% to 36,616.7.

On the BSE, 314 shares were traded in the counter so far compared with average daily volumes of 233 shares in the past two weeks. The stock had hit a high of Rs 1833.80. The stock hit an intraday low of Rs 1750 which also a 52-week low for the counter. The stock hit a 52-week high of Rs 3298 on 30 August 2018.

Same store sales growth (SSSG) stood at 5.2% for the quarter. The company registered the highest revenue growth in Uttar Pradesh, its largest state in terms of retail store presence. The key growth driver for this quarter was the holy month of Ramadan, leading to Eid, a festival widely celebrated by millions of families in geographies where V-Mart has a substantial presence.

The company's earnings before interest tax depreciation and amortization (EBITDA) increased 33.79% to Rs 57.8 crore in Q1 June 2019 from 43.2 crore in Q1 June 2018.

Commenting on the company's performance in Q1 June 2019, Lalit Agarwal, CMD, said, "We remain bullish on the long-term market opportunity and V-Mart's ability to drive accelerated expansion. Even though we are witnessing a bit of liquidity crunch in the economy and consumers holding back on spending, we were able to pull up sales and record impressive growth, particularly in the build-up to Eid in our key markets.”

The company in its notes to accounts also stated that investment made in commercial papers of Infrastructure Leasing & Financial Services (IL&FS) amounting to Rs. 9.79 crore were due for redemption on 18 September 2018. The company reported that the amount and interest have not been received as on date and there was a significant uncertainty on recovery of the entire amount. The management has made full provision and continues to monitor the development.

In a separate announcement, the company reported that it has opened three new stores in state of Rajasthan, Uttar Pradesh and Punjab while closing stores two stores in Jharkhand and Delhi. With this total number of stores increased to 229 stores in 179 cities across 17 states.

V-Mart is a retail store chain for the complete family, offering fashion apparel, footwear, home furnishings, general merchandise and kirana. Primarily focusing on Tier II and III cities, V-Mart has 228 stores