D-Mart's Parent Company, Avenue Supermarts, Records 17.19% Surge in Q3 Revenue, Reaches Rs 13,247.33 Crore

3 Jan 2024 , 11:48 AM

Avenue Supermarts, the parent company of D-Mart, reported a 17.19% increase in standalone revenue from operations for Q3 ending December 31, 2023, reaching Rs 13,247.33 crore.

In the same quarter last year, the company recorded revenue at Rs 11,304.58 crore. As of December 31, 2023, Avenue Supermarts operates a total of 341 stores, according to an exchange filing.

The disclosed standalone revenue from operations for the mentioned quarter is subject to a limited review by the company’s statutory auditors.

Despite a 0.96% increase to Rs 4105.35 on BSE on January 2, the stock has faced challenges over the past couple of years due to stiff competition from other retailers.

Over the last year, the stock has seen a modest increase of 0.77%, while it has declined by 12% over the last two years.

In Q2, Avenue Supermarts reported a consolidated net profit of Rs 623.35 crore, marking a 9.09% decline from the year-ago period.

The company witnessed an 18.66% YoY increase in consolidated revenue from operations in Q2FY24, reaching Rs 12,624.37 crore compared to Rs 10,638.33 crore a year ago.

Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) for Q2FY24 stood at Rs. 1,005 crore, up from Rs. 892 crore in the corresponding quarter of the previous year. The EBITDA margin was 8.0% in Q2FY24, compared to 8.4% in Q2FY23.

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