Avenue Supermarts Ltd., which owns and operates retail chain DMart, reported a standalone net profit jump of 113.2% on Saturday. ₹448.90 crore for the quarter ended 30 September 2021. The company posted a net profit of ₹210.20 crore in the year-ago period.
DMart reports 46.6% growth in its standalone revenue from operations ₹7,649.64 crore for the second quarter ended September 2021. The revenue from the company’s operations was ₹5,218.15 crore in the July-September quarter a year ago, Avenue Supermarts informed BSE in a regulatory filing.
The total revenue for H1FY22 is Rs. 12,681 crore as compared to Rs. 9,051 crore in the same period last year. Earnings before interest, tax, depreciation and amortization (EBITDA) in H1FY22 is Rs. 891 crore as compared to Rs. 434 crores during H1FY21. The EBITDA margin stood at 7.0% in H1FY22, while it stood at 4.8% in H1FY21.
Total expenses in the quarter were ₹7,085.58 crore as against ₹4991.55 crore in the same quarter last year.
Commenting on the company’s performance, Neville Noronha, CEO and Managing Director, Avenue Supermarts Ltd. said: “The Covid-19 related lockdown restrictions were further eased during the quarter. Revenue at DMart stores grew by 46.6% as compared to the same quarter last year. Two years and older DMart stores grew by 23.7% in the month of September 2020 as compared to September 2020.”
He also added, “All our premises continue to follow all Covid-19 related protocols to protect our customers and employees. More than 96% of all our eligible employees have taken their second dose of vaccination. We continue to encourage all eligible employees to be fully vaccinated”.
Shares of Avenue Supermarts Ltd closed at Thursday’s level ₹5,329.65 each on the BSE, up 4.04% from its previous close.
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