DMart Q3 results 2023: In Q2FY23, Avenue Supermarts reported near 29% jump in net profit

“Third quarter sales increased 24.7% compared to the quarter last year. The FMCG and staples segments continued to outperform the general merchandise and apparel segments. The decline in gross margin for the quarter last year reflected this mix change. Arbitrary of non-FMCG sales did not perform as well as expected this quarter.

The company expanded its e-commerce operations in four new cities while continuing to strengthen its presence in 18 existing cities. It currently operates in 22 cities in India.

Dmart stores in the country have come within the reach of people as usual. Damani operates the country’s largest retail store chain under the DMart brand name. Its parent company Avenue Super Mart has made a profit bonanza this festive season. In this sequence, the company has recently announced the results for the quarter ended 31 December.

increased profits

Avenue Supermarts’ net profit rose 9 per cent to Rs 641 crore in the December quarter. In the same period last year, the company’s profit was just Rs 586 crore. During the period, the company’s consolidated net profit grew by 7 per cent to Rs 589 crore. Also, the consolidated income grew by around 25.5 per cent to Rs 11,569 crore. The company’s standalone income grew 25 per cent to Rs 11,305 crore from Rs 9,065 crore in the same quarter last year.

After tax..

Ebitda increased to Rs 974 crore in the third quarter of FY 2022. It is worth mentioning that it is Rs 868 crore in the same period last year. Ebitda margin declined to 8.6 percent from 9.6 percent in the third quarter. However, shares of Avenue Supermarts fell 1.28 per cent on the Mumbai Stock Exchange in the trading session ended on Friday, with the share price at Rs 3,862.20.

Category: Finance

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