Avenue Suparmarts – owner and operator of retail chain DMart announced its July-September quarter results for the financial year 2021-22, reporting a net profit of Rs 418 crore on a consolidated basis – marking a growth of 110 per cent, compared to Rs 199 crore in the corresponding month last year.
The company’s profit more than double din the second quarter of the current fiscal, according to data in the regulatory filing by Avenue Suparmarts to the stock exchanges.
Avenue Supartmart’s revenue from operations in the September quarter stood at Rs 7,789 crore, compared to Rs 5,306 crore in the year-ago period, marking a growth of 46.79 per cent year-on-year. The company’s earnings before tax, depreciation, and amortization (EBITDA) stood at Rs 669 crore, compared to Rs 330 crore in the year-ago period.
“Covid-19 related lockdown restrictions were eased further during this quarter. Revenue in the DMart stores grew by 46.6 per cent over the corresponding quarter of last year. Two years and older DMart stores grew by 23.7 per cent in the month of September 2021 as compared to September 2020.
We have 187 stores that are 2 years or older. We have done a soft launch of DMart Ready in the cities of Surat and Vadodara,” said Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited.
On Thursday, October 14, shares of Avenue Supermarts settled 4.04 per cent higher at Rs 5,329.65 apiece on the BSE. Avenue Supermarts opened on the BSE at Rs 5,187, swinging to an intra day high of Rs 5,420 and an intra day low of Rs 5,179.90, throughout the trading session.