Avenue Supermarts (D-Mart) Reports 17% YoY Rise in Q3 FY24 Net Profit

15 Jan 2024 , 10:47 AM

Avenue Supermarts, the operator of the D-Mart hypermarket chain, saw a nearly 2% surge in early trade on January 15 following the parent company’s announcement of a 17% year-on-year increase in net profit for the third quarter of fiscal year 2024. The consolidated net profit for the October-December quarter stood at Rs 690.41 crore.

By 9:18 am, the stock was trading at Rs 3,905.25 on the National Stock Exchange, marking a 1.7% increase from the previous close. Avenue Supermarts reported a consolidated revenue of Rs 13,572.47 crore, reflecting a 17.31% YoY growth, with EBITDA reaching Rs 1,120 crore compared to Rs 965 crore in the same quarter of the previous year.

The company noted that sales in the non-FMCG segment were lower than expected, attributing the dip to temporary factors.