Avenue Supermarts Q3 PAT up 23.62% to Rs552.56cr on stronger revenue push

8 Jan 2022 , 04:50 PM

Avenue Supermarts reported 22.22% growth in total sales revenues for the Dec-21 quarter on consolidated basis at Rs9,217.76cr. On a sequential basis, the revenues were up by 18.41%.

During the December 2021 quarter, Avenue Supermarts added a total 17 D-Mart stores across India which took the total tally to 29 store additions in the first 9 months of the fiscal. Avenue Supermarts benefited from an overall revival in last mile demand.

For the Dec-21 quarter, the consolidated operating profits were up 28.28% at Rs738.16cr. The operating profits grew faster than the revenues as the EBITDA profits showed a yoy growth of 25.6% at Rs788cr.

OPM fell improved from 7.63% in the Dec-20 quarter to 8.01% in Dec-21 quarter. Operating profits were also higher sequentially.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 23.62% at Rs552.56cr on the back of higher revenue advantage. D-Mart typically follows the EDLC-EDLP strategy, which stands for Everyday Low Cost and Everyday Low Price.

The prices are squeezed for vendors and benefits are passed on to the consumers, helping margins. PAT margins improved from 5.93% in the Dec-20 quarter to 5.99% in the Dec-21 quarter.

Financial highlights for Dec-21 compared yoy and sequentially

	Avenue Supermarts
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 9,217.76	₹ 7,542.00	22.22%	₹ 7,784.94	18.41%
Operating Profit (Rs cr)	₹ 738.16	₹ 575.42	28.28%	₹ 552.57	33.59%
Net Profit (Rs cr)	₹ 552.56	₹ 446.97	23.62%	₹ 417.79	32.26%
Diluted EPS (Rs)	₹ 8.46	₹ 6.85		₹ 6.40
OPM	8.01%	7.63%		7.10%
Net Margins	5.99%	5.93%		5.37%