Media company Bennett, Coleman & Co Ltd has trimmed its stake in V2 Retail Ltd by selling over 11 lakh shares, representing 3.23 percent stake, through open market transactions, Press Trust of India reported.
As per the regulatory filing, Bennett, Coleman & Co Ltd, which had 5.97 percent stake earlier, sold 11,00,562 shares in the open market in several tranches.
After the transactions, Bennett, Coleman & Co Ltd’s holding in V2 Retail Ltd has come down to 2.74 percent.
V2 Retail reported a net loss of Rs 7.32 crore in Q2 September 2020 from Rs 10.45 crore in Q2 September 2019. Net sales declined nearly 44% to Rs 85 crore in Q2 September 2020 over Q2 September 2019. The company’s gross margin improved to 31.8% in Q2 September 2020 from 27.7% in Q2 September 2019.
V2 Retail Ltd had reported a consolidated loss of Rs 17.5 crore and revenue from operations of Rs 122 crore for the half-year ended September 30, 2020.
