DMart Q3 Results: Avenue Supermarts net profit rises 17% to ₹691 crore, revenue up 17% YoY
DMart Q3 Results: Ace investor Radhakishan Damani-backed Avenue Supermarts which operates the retail chain DMart, announced its October-December quarter results for fiscal 2023-24 (Q3FY24), reporting a rise of 17 per cent in its consolidated net profit at ₹690.61 crore, compared to ₹589.68 crore in the year-ago period. The hypermarket chain operator reported a 17.31 per cent rise in consolidated revenue from operations at ₹13,572.47 crore, compared to ₹11,569.05 crore in the corresponding period last year. The company's basic earnings per share (EPS) for the December quarter stood at Rs.
10.62, compared to Rs. 9.10 in the year-ago period. Avenue Supermarts' earnings before interest, tax, depreciation and amortization (EBITDA) in Q3FY24 stood at ₹1,120 crore, compared to ₹965 crore in the corresponding quarter last year.
EBITDA margin stood at 8.3 per cent in the quarter-under-review, compared to 8.3 per cent in Q3FY23. “We ended Q3 FY 2024 with a revenue growth of 17.2 per cent as compared to the corresponding quarter of last year. Contribution from general merchandise and apparel has stabilised and trends are encouraging post Diwali.
This time the festive season sales were lower than expected in non-FMCG. Within FMCG, agri-staples (ex-edible oil) are going through significantly high inflation,'' said Neville Noronha, CEO & Managing Director, Avenue Supermarts. Avenue Supermarts opened five new stores during the third quarter.
The company's total stores now stand at 341. On Friday, shares of Avenue Supermarts settled 0.56 per cent higher at ₹3,840.10 apiece on the BSE. Milestone Alert!
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