Avenue Supermarts on Saturday reported 6.7 per cent rise in consolidated profit after tax 589.68 crore for the quarter ending December 2022. it is against the benefit of 552.56 in the corresponding quarter of the previous fiscal.
owned by radhakishan damani Avenue Supermartswhich runs the DMart chain, reported a 25 percent increase in revenue from operations against 11,569.05 9,217.76 in the corresponding quarter of the previous fiscal.
Earnings before interest, tax, depreciation and amortization (EBITDA) in Q3FY23 stood at Rs 965 crore as compared to Rs. 866 crore in the corresponding quarter of the previous year.
EBITDA margin in Q3FY23 stood at 8.3% as compared to 9.4% in Q3FY22.
DMart added four stores in the December quarter.
“The third quarter saw our revenue grow by 24.7% compared to the same quarter last year. FMCG And the staples segment continued to outperform the general merchandise and apparel segments. The decline in gross margin percentage compared to the same quarter last year is a reflection of this mix change. Neville Noronha, CEO & MD, Avenue Supermarts Ltd. said, “Discretionary non-FMCG sales did not meet expectations in the quarter.
The company has expanded its e-commerce operations to four new cities, while continuing to deepen its presence in the existing 18 cities. Its operations are now spread across 22 cities in India.
Avenue Supermarts is also starting its own pharmacy shop-in-shop which it has launched in its stores.
“We are in the process of starting a pharmacy shop-in-shop in one of our stores through one of our subsidiaries (Reflect Healthcare & Retail Pvt. Ltd.). This is yet another pilot using our existing And the mortar business will complement the store infrastructure,” added Neville Noronha CEO and Managing Director.
Avenue Supermarts reports nearly 29 per cent jump in net profit after tax (PAT) for the quarter ended September 2022 730.48 cr.
Radhakishan Damani’s company reported total comprehensive income in the last quarter 727.19 crores while it stood 561.16 cr in Q2FY22.
DMart or Avenue Supermarts share price ended at Rs. 3,855 on Friday. DMart share price has been in the sell zone for the past six months. In the last one month, the Avenue Supermarts stock has fallen over 8 per cent, while it has declined about 2 per cent on the NSE in the last six months.
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