DMart’s consolidated Q3 net profit up 17% at Rs.690 cr

Avenue Supermarts Ltd (ASL), which runs the DMart retail chain, has reported a consolidated net profit of Rs690 crore for fiscal third quarter ended 31 December 2023, a 16.9 per cent jump over the Rs590 crore net profit in the corresponding quarter of the previous financial year. 

Total revenue for the October-December 2023 quarter also was up 17 per cent at Rs13,572 crore, compared to Rs11,569 crore in the similar quarter of the previous fiscal.

Earnings before Interest, tax, depreciation and amortization (EBITDA) in Q3FY24 stood at Rs1,120 crore, compared to Rs965 crore in the corresponding quarter of the previous fiscal. EBITDA margin stood at 8.3 per cent compared to 8.3 per cent in Q3FY23.

Basic earnings per share (EPS) for Q3FY24 stood at Rs10.62,  compared to Rs9.10 for Q3FY23.

Standalone net profit for the October-December 2023-24 quarter  stood at Rs737 crore, compared to Rs641 crore in the corresponding quarter of the previous financial year. PAT margin for the quarter stood at 5.5 per cent compared to 5.7 per cent in the year-ago quarter.

Standalone revenue for the quarter ended 31 December 2023 stood at Rs13,247 crore, compared to Rs11,305 crore in the same period of the previous fiscal. EBITDA in Q3FY24 stood at Rs1,121 crore, against Rs974 crore in the corresponding quarter of the previous financial year. EBITDA margin stood at 8. Per cent in Q3FY24, compared to 8.6 per cent in Q3FY23.

Basic earnings per share (EPS) for Q3FY24 stood at Rs11.32,  compared to Rs9.90 for Q3FY23.

DMart said its consolidated net profit for the first nine months of the current financial year (April-December 2023-24) stood at Rs1,972 crore , a 2.8 per cent year-on-year increase compared to Rs1,918 crore in April-December 2022-23) PAT margin stood at 5.2 per cent, compared to 5.9 per cent in the year-ago period.

Total revenue for the April-December 2023-24 period increased by 18 per cent to Rs38,062 crore, compared to Rs32,245 crore in the same period last year.

EBITDA in April-December FY24 stood at Rs3,160 crore, against  Rs2,866 crore during the same period of the previous fiscal. EBITDA margin was lower at 8.3 per cent compared to 8.9 per cent in April-December 2022.

Basic Earnings per share (EPS) for 9MFY24 stood at Rs30.34  compared to Rs29.61 for April-December 2022-23.

“We ended Q3 FY 2024 with a revenue growth of 17.2 per cent compared to the corresponding quarter of last year… We opened 5 new stores during the quarter. Our total stores now stand at 341,” Neville Noronha, CEO and managing director, Avenue Supermarts Limited, said.

Avenue Supermarts Limited is a Mumbai-based national supermarket chain that offers customers a range of home and personal products under the DMart retail chain. The company offers a wide range of products with a focus on foods, non-foods (FMCG) and general merchandise and apparel product categories.