Mumbai: Vishal Retail has posted a 22% increase in its net profit at Rs18.08 crore for the six months ended 30 September.
The company had a net profit of Rs14.72 crore in the corresponding quarter a year ago, the city-based firm said in a filing to the Bombay Stock Exchange.
Total income rose by two-fold at Rs739.18 crore during the six-month period, from Rs367.78 crore last year.
The company is planning to give big push to small format stores and plans to set up 2,000 such outlets across the country by 2009-10. Vishal Retail is expecting a turnover of around Rs180-200 crore from the new small format stores this fiscal, Vishal Retail Group President Ambeek Khemka had said.
Shares of the company closed at Rs104.15, down 7.09% on the BSE on Wednesday.