Avenue Supermarts’ consolidated net profit rises to Rs 773.68 crore in Q1, FY25
15 July 2024, Mumbai
The consolidated net profit of DMart operator Avenue Supermarts’ during Q1, FY25 increased by 17.45 per cent to Rs 773.68 crore from Rs 658.71 crore in the corresponding quarter the previous year.
The company’s profit after tax (PAT) margin rose by 5.5 per cent during the quarter similar to the first quarter of the previous fiscal year. Its total revenue for the quarter increased by 18.57 per cent to Rs 14,069.14 crore from Rs 11,865.44 crore during the corresponding quarter in the previous year.
However, compared to Q1 FY ’24’s total expenses of Rs 11,006.92 crore, Q1 FY ’25’s total expenses grew to Rs. 13,056.61 crore.
In the first quarter of FY ’25, Avenue Supermarts’ earnings before interest, tax, depreciation, and amortisation (EBITDA) expanded to Rs 1,221 crore, compared to Rs 1,035 crore in the similar quarter of the previous fiscal year. However, its EBITDA margin remained stable at 8.7 per cent in Q1 FY ’25.
Neville Noronha, CEO and Managing Director, DMart says, the retailer recorded an increased contribution from the apparel sector during the quarter as was reflected in the gross margin uptick in Q1 FY ’25 as compared to Q1 FY ’24.
During the quarter, DMart also opened six new stores, bringing the total store count to 371 as of June 30, 2024.
