DMart Q1 Results: Ace investor Radhakishan Damani-backed Avenue Supermarts which operates the retail chain DMart, announced its April-June quarter results for fiscal 2024-25 (Q1FY25) on Saturday, July 13, reporting a rise of 17.5 per cent in consolidated net profit at ₹773.8 crore, compared to ₹658.8 crore in the corresponding period last year.
The hypermarket chain operator's revenue from operations in the first quarter of current fiscal rose 18.6 per cent to ₹14,069 crore compared to ₹11,865.4 crore in the year-ago period. Avenue Supermarts' total expenses in the June quarter were up 18.62 per cent to ₹13,056.61 crore.
The total income was ₹14,110.74 crore, up 18.54 per cent in the June quarter. At the operating level, the Mumbai-based company's earnings before interest, tax, depreciation and amortization (EBITDA) rose 18 per cent to ₹1,221.3 crore, compared to ₹1,035.3 crore in the same period last year. Margin stood at 8.68 per cent compared to 8.73 per cent in the year-ago period.
DMart said in its regulatory filing to the stock exchange that it follows the everyday low cost - everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices. Basic earnings per share (EPS) for Q1FY25 stood at Rs.11.89, compared to Rs.10.14 for Q1FY24.
“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 (Q1 FY 2025 vs Q1 FY 2024). Operating costs have gone up due to continuing effort on improving service levels and building capability for the future," said Neville Noronha, CEO & Managing Director, Avenue Supermarts Ltd.
Avenue Supermarts opened six new stores during the June quarter. The company's total stores now stand at 371. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
On Friday, shares of Avenue Supartmarts settled 1.15 per cent higher at ₹4,953.35 apiece on the BSE.
