Avenue Supermarts net up 73 pct

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Mumbai | Published: May 6, 2018 2:26:22 AM

Total Revenue during the period was up 22.4 pct y-o-y to Rs 3,810 crore.

Avenue Supermarts, EbitdaThe firm?s Ebitda was up 41.3% y-o-y to Rs 294 crore.

Avenue Supermarts, which operates the chain of DMart stores, on Saturday reported a 72.9% year-on-year growth in its net profit to Rs 167 crore in the fourth quarter of FY18, driven by continued focus on offering low-cost products and lower finance costs.
Total Revenue during the period was up 22.4% y-o-y to Rs 3,810 crore. While earnings improved compared to the year-ago period, they were still below street expectations. According to Bloomberg estimates, the company was likely to report a consolidated profit of `178.5 crore on revenue of Rs 3,967 crore.

Neville Noronha, CEO and MD, Avenue Supermarts, said, “Deflation in staples, tax rates not being comparable, store addition not in line with expectation, and base effect of demonetisation has made March 2018 revenue a little tepid. Grooming talent and store addition shall continue to remain two main challenges and focus areas for the company.”

The firm’s Ebitda was up 41.3% y-o-y to Rs 294 crore. The company’s Ebitda margin improved from 6.7% in Q4FY17 to 7.7% in Q4FY18. Finance costs declined 57.1% y-o-y to Rs 13.18 crore. Total Revenue for FY18 was up 26.3% to Rs 15,009 crore.
The company opened its first store in Mumbai, Maharashtra in 2002. As of March 31, Avenue Supermarts had 155 stores operational across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, NCR, Chhattisgarh and Punjab, among others. The company opened 14 stores in Q4FY18.

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