V-Mart Q2 FY27: Loss Widens to Rs 16 Cr, Revenue Up 18%

Operating performance also improved. EBITDA (earnings before interest, tax, depreciation and amortisation) grew 20.3 per cent to Rs 86.1 crore from Rs 71.6 crore. Because EBITDA grew faster than revenue, the margin improved slightly to 9 per cent from 8.9 per cent. Store-level and operating costs therefore appear to be under control.

bolt Latest News Updates for You

V-Mart Q2 FY27: Loss Widens to Rs 16 Cr, Revenue Up 18%

NEW

Willie Walsh’s IndiGo Playbook: Go Global, But Never Lose the Short-Haul Edge

IPO Market H1 FY27: Record Rs 84,400 Crore Raised

In the quarter, the retail trade business generated income of Rs 94.71 crore, and the digital marketplace segment contributed Rs 142.8 crore.

The first half of the year looks strong too. Total income for H1 FY27 rose 20.52 per cent year-on-year to Rs 2,047.13 crore.

Also Read

IPO Market H1 FY27: Record Rs 84,400 Crore Raised Business

Why the loss still widened

The gap between better operations and a bigger loss is the key point in these results. EBITDA improved, so the pressure is coming from costs below the operating line, such as depreciation, finance costs and taxes. The summary figures do not give a detailed breakdown of these items.

For a retailer focused on growth, this is not unusual. A wider network of stores and investment in digital channels can push sales up before the business benefits from scale. September also falls before the main festive shopping season. For value retailers, the October–December quarter is usually the most important of the year.

Leadership change in merchandising

V-Mart's board, acting on the recommendation of the Nomination and Remuneration Committee, appointed Varin Agarwal as Head of Merchandising with effect from November 3, 2026. He will also be designated Senior Management Personnel of the company.

In value fashion, the merchandising head decides what goes on the shelves and at what price. That makes the role central to sales and margins, especially going into peak season.

Market reaction

Investors reacted calmly. V-Mart Retail shares closed marginally higher at Rs 737.40 on the BSE, up Rs 0.40, or 0.05 per cent, from the previous close. The flat move suggests the market weighed the strong sales and improved margins against the wider loss.

The bottom line

V-Mart's Q2 shows demand holding up for value fashion and a business that is running better operationally. The next question is when that revenue growth turns into profit. The festive-season quarter and the new merchandising leadership will show whether V-Mart can narrow the gap between growing sales and a widening loss.