Vishal Mega Mart Shares Tank 8% As Promoters offload Stakes

 New Delhi: Shares of Vishal Mega Mart fell sharply on Tuesday, June 17, shedding just about 8 p.c in early industry after an enormous block deal happened at the BSE. By 11:27 am, the inventory used to be down 3.6 p.c at Rs120.45, having touched an afternoon’s low of Rs.115.10 in comparison to the former shut of Rs.124.90. The corporate’s marketplace cap stood at about

 Rs.55,981 crore.

The large transfer got here after 91 crore stocks—representing 19.82 p.c of the corporate’s fairness—value Rs.10,488 crore modified arms at Rs.115 in step with percentage in block offers. This worth used to be about 7.9 p.c not up to the closing final worth.

This sharp fall in percentage worth got here in spite of Vishal Mega Mart reporting robust financials for This autumn FY24-25:

Revenue grew through 23 Percent year-on-year to Rs.2,547.9 crore.

Net benefit jumped 88 p.c to Rs.115 crore.

EBITDA rose 42.5 p.c to Rs.357 crore, with margins making improvements to to 14 p.c from 12.1 p.c closing yr.

Same-store gross sales enlargement (SSSG) stood at a wholesome 13.7 p.c.

The corporate additionally expanded its footprint, including 28 new retail outlets right through the quarter, and now operates over 656 retail outlets throughout India.