DMart reports 2% y-o-y growth in June net profit to Rs 659 crore

17 Jul 2023 , 10:03 AM

Avenue Supermarts, operator of the retail chain DMart, announced a consolidated net profit of Rs 6,58.71 crore for the first quarter of financial year 2023-24 on July 15, up 2% y-o-y from Rs 642.89 crore the previous year. On a sequential basis, net profit increased by 43% from Rs 460.10 crore.

Standalone net profit climbed 2.2% to Rs 695 crore in Q1FY24, from Rs 680 crore in the previous corresponding quarter.

The company said that its consolidated revenue from operations increased 18.2% y-o-y to Rs 11,865.44 crore as compared to Rs 10,038.07 crore in the previous corresponding quarter. While on a QoQ basis, revenue jumped 12% from Rs 10,594.11 crore.

On a standalone basis, total revenue for the quarter under review stood at Rs 11,584 crore, up by 18% against Rs 9,807 crore in the same quarter of previous year.

EBITDA was reported at Rs 1,035 crore in Q1FY24, compared to Rs 1,008 crore in the same period last year. In Q1FY24, the EBITDA margin came in at 8.7%, down from 10% in Q1FY23.

At around 10.01 AM, Avenue Supermarts was trading 1.16% lower at Rs 3,794.25 per piece, against the previous close of Rs 3,838.75 on NSE.

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