Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported a 17.5 per cent jump in its net profit to Rs 773.8 crore for the first quarter of the current financial year 2024-25. Its revenue during April-June 2024 increased 18.6 per cent to 18.6 per cent to Rs 14,069.1 crore, compared with Rs 11,865.4 crore in the year-ago period.
DMart’s net profit had stood at Rs 658.8 crore in the correponding period last year.
Its EBITDA during the April-June 2024 quarter rose 18 per cent to Rs 1,221.3 crore, against Rs 1,035.3 crore a year ago. The company’s margin stood at 8.68 per cent, lower as compared with 8.73 a year ago.
Neville Noronha, CEO & managing director of Avenue Supermarts Limited, said, “Our revenue for Q1 FY 2025 grew by 18.4 per cent. Contribution from General Merchandise and Apparel continued to improve during the quarter and this is reflected in the gross margin uptick (Q1 FY 2025 vs Q1 FY 2024). We opened 6 new stores during the quarter. Our total stores stand at 371 as on June 30, 2024. Operating costs have gone up due to continuing effort on improving service levels and building capability for the future.”
Shares of Avenue Supermarts on Friday jumped Rs 56.35 or 1.15 per cent to Rs 4,953.25 apiece on the BSE.
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