Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported its fiscal first quarter earnings with profit at Rs 773.82 crore, up 17.5 per cent in comparison to Rs 658.71 crore during the same period last year. It posted revenue from operations at Rs 14,069.14 crore, up 18.6 per cent as against Rs 11,865.44 crore recorded during the first quarter of FY24. The company EBITDA was up 18 per cent at Rs 1,221.3 crore as against Rs 1,035.3 crore on-year.
On a standalone basis, D-Mart recorded total revenue at Rs 13,712 crore as compared to Rs 11,584 crore in the same period last year. Net profit stood at Rs 812 crore for Q1FY25, as compared to Rs 695 crore in the corresponding quarter of last year. PAT margin, meanwhile, stood at 5.9 per ceny in Q1FY25.
D-Mart follows Everyday low cost – Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.
Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, “Our revenue for Q1FY2025 grew by 18.4 per cent. Contribution from General Merchandise and Apparel continued to improve during the quarter and this is reflected in the gross margin uptick (Q1FY2025 vs Q1FY2024). We opened 6 new stores during the quarter. Our total stores stand at 371 as on June 30, 2024. Operating costs have gone up due to continuing effort on improving service levels and building capability for the future.”