Avenue Supermarts logs 490.30% yoy jump in PAT at Rs680 crore; stock adds ~1%

11 Jul 2022 , 10:28 AM

Avenue Supermarts Limited has reported a noticeable yoy growth in the standalone profit for the quarter ended June 2022, on the back of healthy topline and operating performance. However, the overall growth has a low base as the previous quarter was impacted due to covid second wave.

The standalone profit was reported at Rs680 crore during the June quarter, up from Rs115 crore in the previous corresponding quarter. On a sequential basis, the profit witnessed a growth of nearly 46%.

Standalone revenue from operations jumped 95% year-on-year to Rs9,807 crore during the quarter ended June 2022. Sequentially, the revenue growth was reported at 14%.

Avenue Supermarts expanded by ten stores in the first quarter of the current fiscal year 2022-23. We opened 110 stores in the last three fiscal years that never got the chance to operate normally in the previous two years. These stores performed exceptionally well in this quarter.

On the operational front, earnings before interest, tax, depreciation, and amortization (EBITDA) in Q1FY23 were Rs1,008 crore, a 356% jump over the same period last year, and the margin expanded significantly by 590 basis points to 10.30%.

At around 10.33 AM, Avenue Supermarts was trading at Rs3,979.45 up by Rs37.4 or 0.95% from its previous closing of Rs3,942.05 on the BSE. The scrip opened at Rs4,023 and has touched day’s high and low of Rs4,091.90 and Rs3,960.15 respectively.