Avenue Supermarts, which owns and operates retail chain D-Mart, on Saturday reported a 23.6% rise in consolidated net profit at Rs 552.53 crore for the third quarter ended December 31.
Avenue Supermarts said in a BSE filing that the company had posted a net profit of Rs 447 crore in the same quarter a year ago.
Revenue from operations grew 22.2% to ₹9,217.8 crore during the quarter under review as against ₹7,542 crore in the corresponding quarter of the previous fiscal.
Total expenditure also increased by 21.7% to Rs 8,493.6 crore in the third quarter of FY 2021-22 as against Rs 6,978 crore in the year-ago quarter.
Neville Noronha, CEO and MD, Avenue Supermarts, said: “Revenue this quarter grew 22% compared to the same quarter last year. Inflation and fewer exit opportunities are affecting some categories more negatively than others,” he said.
On the outlook, Mr Noronha said given the current COVID wave, D-Mart’s sales and customer count will be dependent on local regulations.