D-Mart clocks 17% rise in net profit at Rs 690cr for Oct-Dec quarter

Mumbai: Avenue Supermarts, which operates the D-Mart retail chain, on Saturday reported a 17.09 per cent increase in consolidated net profit at Rs 690.41 crore for the October-December quarter of the current financial year. The company had made a net profit of Rs 589.64 crore in the same quarter last year.

Avenue Supermarts reported a 17.31 per cent year-on-year (YoY) rise in consolidated revenue from operations at Rs 13,572.47 crore, as against Rs 11,569.05 crore in the December 2022 quarter.

Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY24 stood at Rs 1,120 crore up from Rs 965 crore in the corresponding quarter last year.

EBITDA margin stood at 8.3 percent in Q3FY24 as compared to 8.3 per cent in Q3FY23.

"This time the festive season sales were lower than expected in non-FMCG. Within FMCG, agri-staples (ex-edible oil) are going through significantly high inflation," said Neville Noronha, the company's CEO & Managing Director.

The total number of the company's stores as of December 31, 2023, stood at 341.

Avenue Supermarts' stock closed at a price of Rs 3,843 apiece on the National Stock Exchange on Friday, up 0.57 per cent over the previous day.