Avenue Supermarts Q3 PAT rises to Rs553cr, revenue robust; Sees higher inflation as an opportunity, sales and footfalls to depend on local regulations amid latest Covid spread

10 Jan 2022 , 03:36 PM

Avenue Supermarts (DMART) reported a consolidated net profit of Rs553cr for the quarter ending December 2021 (Q3FY22) compared to Rs447cr in the corresponding quarter of last year. PAT margin stood at 6.0% in Q3FY22 as compared to 5.9% in Q3FY21.

Consolidated total revenue stood at Rs9,218cr for the quarter under review, as compared to Rs7,542cr in the same period last year.

EBITDA in Q3FY22 stood at Rs866cr as compared to Rs689cr in the corresponding quarter of last year. EBITDA margin stood at 9.4% in Q3FY22 as compared to 9.1% in Q3FY21.

Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “Revenue in the DMart stores grew by 22.0% in this quarter over the corresponding quarter of last year. Overall gross margins are marginally lower due to mix deterioration. General merchandise and apparel business is consistently seeing relatively lesser sales contribution while essentials and FMCG is doing better. Inflation and lesser opportunities to go out are negatively impacting certain categories more than otheRsWe are seeing higher inflation as an opportunity to make our buying more efficient, our assortment sharper and continue to keep our costs low.”

Total Revenue for 9MFY22 stood at Rs22,190cr, as compared to Rs16,731cr in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in 9MFY22 stood at Rs1,759cr, as compared to Rs1,130cr during 9MFY21. EBITDA margin stood at 7.9% in 9MFY22 as compared to 6.8% in 9MFY21.

Net Profit stood at Rs1,066cr for 9MFY22, as compared to Rs686cr in 9MFY21. PAT margin stood at 4.8% in 9MFY22 as compared to 4.1% in 9MFY21.

The MD and CEO added, “Considering the current Covid wave, our sales and footfalls will be dependent on local regulations. We continue to take all precautions to ensure every shopper, employee and partner is operating in a safe environment.”

On Sensex, DMART closed at Rs4633 per piece down by Rs97.85 or 2.07%.