DMart parent's Q2 results: Net profit up 3.85% to ₹685cr
What's the story
Avenue Supermarts Ltd, the parent company of popular retail chain DMart, has reported a 3.85% increase in its consolidated net profit for the September quarter. The company's net profit stood at ₹684.85 crore, up from ₹659.44 crore in the same period last year. This is a year-on-year (YoY) growth of 3.85%. The figures were released today as part of a regulatory filing by Avenue Supermarts.
Revenue growth
Revenue from operations up by 15.5% YoY
Avenue Supermarts's revenue from operations for the September quarter stood at ₹16,676.3 crore, up 15.5% from ₹14,444.5 crore in the same period last year. The company's total expenses during this period also increased by 16% to ₹15,751.08 crore. However, its EBITDA margins narrowed by 29 basis points to 7.28%, down from last year's figure of 7.57%.
PAT margin
PAT margin at 4.1%
Avenue Supermarts's Profit After Tax (PAT) margin for the September quarter stood at 4.1%, down from last year's figure of 4.6%. The company's total income, including other income, stood at ₹16,695.87 crore for the quarter under review. This marks a YoY increase of 15.3%. The company opened eight new stores during this period, taking its total store count to 432 by September-end.
E-commerce growth
E-commerce update
Avenue Supermarts's e-commerce arm, DMart Ready, added 10 new fulfillment centers in existing markets during the quarter. However, it also exited operations in five cities: Amritsar, Belagavi, Bhilai, Chandigarh and Ghaziabad.