Retail chain Avenue Supermarts backed DMart, on Saturday reported strong second-quarter results for the financial year 2022-2023 (Q2FY23), with top and bottom lines growing in double-digit while the margins during the quarter witnessed pressure.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

DMart’s consolidated net profit grew by 64.1 per cent to Rs 685.8 crore in the July-September quarter of FY23 as against Rs 417.8 crore in the same quarter a year-ago. While the company’s consolidated revenue surged by 36.6 per cent to Rs 10,638.3 crore in Q2FY23 versus Rs 7,788.9 crore in Q2FY22.

DMart’s consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) saw a growth of over 33 per cent to Rs 892 crore as compared to Rs 668.6 crore in a year-ago quarter, whereas the margins for Q2FY23 slipped marginally to 8.4 per cent from 8.6 per cent YoY.

The FMCG and staples segment of the business has performed better than the general merchandise and apparel segments DMart said in its earnings filing, adding that the discretionary items in the non-FMCG segment while recovering have still not come back to pre-pandemic levels.

The company continued its strategy of targeting large towns/cities for this business and commenced operations in 6 more cities (Anand, Belgaum, Bhilai, Jaipur, Raipur and Vijayawada) during the quarter and it is now present in 18 cities across India.

Avenue Supermarts Limited is a Mumbai-based company, which owns and operates D-Mart stores. It is a national supermarket chain that offers customers a range of home and personal products under one roof.

The company offers a wide range of products with a focus on Foods, Non-Foods (FMCG) and General Merchandise and Apparel product categories.