Avenue Supermarts Q1FY23 PAT up 6-fold at Rs642.93 crore as normalcy gives a boost to company performance

11 Jul 2022 , 07:59 PM

Avenue Supermarts Ltd, the company that owns the D-Mart brand of retail outlets, reported 93.67% growth in sales revenues yoy for the Q1FY23 quarter on consolidated basis at Rs10,038.07 crore.

On a sequential basis, revenues were higher for the quarter by 14.24%. For Q1FY23, The company added a total of 10 stores and have cumulatively opened 110 stores over the last 3 years.

The best traction in the quarter was visible in the general merchandise and the apparel category. D-Mart has followed the EDLC-EDLP strategy which is about every day low cost and every day low price.

This has ensured value delivery in tough times without compromising on margins.

The consolidated net profit for Q1FY23 was up 574% at Rs642.93 crore while it was up on a sequential basis by 50.63%. For the quarter, the EBITDA grew by 356% yoy at Rs1,008 crore.

EBITDA margins for the quarter also improved yoy from 4.3% to a healthy 10%. The performance was helped by the positive growth in productivity in the older stores during the quarter It may still take another quarter for a full recovery from the impact of the pandemic and its aftermath.

Net margins were 6.40% in Q1FY23 quarter compared to 1.84% in Q1FY22. NPM was higher as compared to 4.86% in Q4FY22.

Financial highlights for Jun-22 compared yoy and sequentially

	Avenue Supermarts
Rs in Crore	Jun-22	Jun-21	YOY	Mar-22	QOQ
Total Income (Rs cr)	₹ 10,038.07	₹ 5,183.12	93.67%	₹ 8,786.45	14.24%
Net Profit (Rs cr)	₹ 642.93	₹ 95.37	574.14%	₹ 426.83	50.63%
Diluted EPS (Rs)	₹ 9.85	₹ 1.46		₹ 6.54
Net Margins	6.40%	1.84%		4.86%