16 Oct 2022 , 05:06 PM
For the first half of FY23, the company reported 59.2% growth in revenues at Rs20,192 crore. EBITDA was up 33.5% in the quarter at Rs895 crore.
The company, which runs the D-Mart chain, has persisted with its Everyday Low Cost — Everyday Low Price (EDLC-EDLP) strategy, which entails squeezing suppliers for deep discounts and then passing on big discounts to the end customers in residential localities.
FMCG and staples have done a lot better than general merchandise and apparel with inflation hitting the low price point products most.
Apart from the cost controls and investor efficiency in the quarter, the company also gained from a Rs141 crore tax credit in the quarter, which helped the net profit surge despite operating profits growing at the same rate as sales growth.
While D-Mart is now present in 18 cities, 90% revenues come from the metros. Net margins are flat on a yoy basis.
Financial highlights for Sep-22 compared yoy and sequentially
Avenue Supermarts | |||||
Rs in Crore | Sep-22 | Sep-21 | YOY | Jun-22 | QOQ |
Total Income (Rs cr) | ₹ 10,638 | ₹ 7,789 | 36.58% | ₹ 10,038 | 5.98% |
Operating Profit (Rs cr) | ₹ 730 | ₹ 553 | 32.12% | ₹ 864 | -15.45% |
Net Profit (Rs cr) | ₹ 686 | ₹ 418 | 64.14% | ₹ 643 | 6.66% |
Diluted EPS (Rs) | ₹ 10.50 | ₹ 6.40 | ₹ 9.85 | ||
OPM | 6.86% | 7.09% | 8.60% | ||
Net Margins | 6.45% | 5.36% | 6.40% |
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