In a standout performance, Avenue Supermarts, the company behind DMart, witnessed a robust 19% surge in revenue in the second quarter of September. However, their net profit for the same period dipped by 9%, closing at 623.35 crore rupees as compared to the 685.71 crore rupees reported during the same financial year.
Steady Growth in Annual Revenue
Avenue Supermarts, the company overseeing DMart’s operations, achieved an annual 18.66% growth in revenue, reaching a staggering 12,624 crore rupees. This marks a significant increase from last year when the company reported revenue of 10,638.33 crore rupees for the same quarter. Comparatively, in the second quarter of June 2023, the company’s revenue increased by 6.4%, totaling 11,865.44 crore rupees.
Improved EBITDA Performance
For the September 2023 quarter, the company’s EBITDA stood at 1,005 crore rupees, surpassing the previous year’s figure of 892 crore rupees during the same period. Despite this growth, the EBITDA margin for the second quarter is slightly lower at 8%, in contrast to the 8.4% reported for the same quarter in the previous year.
Earnings per Share (EPS) Decline
Earnings per share (EPS) for the same period also witnessed a reduction, dropping from 10.58 rupees to 9.58 rupees on an annual basis.
Key Financial Highlights in Standalone Results
- Total Revenue: Avenue Supermarts reported a substantial 18.5% annual growth, amounting to 12,308 crore rupees.
- EBITDA: The company achieved an 11.9% growth in EBITDA, reaching 1,002 crore rupees on an annual basis.
- Profit After Tax (PAT): The company experienced a 9.8% decline in PAT, recording 659 crore rupees on an annual basis.
- Basic EPS: In comparison to 11.28 rupees in Q2 FY23, the basic EPS for September quarter stands at 10.12 rupees.
- Store Expansion: During the September quarter, Avenue Supermarts added nine new stores to their retail network.
Avenue Supermarts, the company behind DMart, achieved remarkable revenue growth, though their net profit experienced a temporary dip. Despite this, their operational performance remained robust, with improvements in EBITDA and store expansion, showcasing their dedication to providing quality products to consumers.