Avenue Supermarts posts 6 pc growth in third quarter net profit
Jan 14, 2023
Mumbai (Maharashtra) [India], January 14 : Avenue Supermarts, which operates hypermarket chain DMart, on Saturday posted a 6.69 per cent growth in net profit to Rs 590 crore during the quarter ended December 2022, against Rs 553 crore in the year-ago period.
The company posted a 25.5 per cent growth in total revenue to Rs 11,569 crore in third quarter, against Rs 9,218 crore in the same period last year, according to the statement uploaded on its website.
Earnings before interest, tax, depreciation and amortisation (Ebitda) in the third quarter stood at Rs 965 crore, as compared to Rs 866 crore in the corresponding quarter of last year, according to the company's statement.
According to the company, profit after tax margin stood at 5.1 per cent in Q3FY23, against 6 per cent in the year-ago period.
The company said basic earnings per share (EPS) for Q3FY23 stood at Rs 9.10, as compared to Rs 8.53 for Q3FY22.
Neville Noronha, CEO and Managing Director, Avenue Supermarts, said: "DMart (Brick and Mortar) business overview Q3 (third quarter) saw our revenues grow by 24.7 per cent over the corresponding quarter of last year. FMCG (Fast and staples segment) continued to outperform the general merchandise and apparel segments. Gross margin percentage decline over the corresponding quarter of last year is a reflection of this mix change. Discretionary non-FMCG sales did not do as well as expected in this quarter."
For the period of nine months till December 2022, its Ebitda stood at Rs 2,866 crore, as compared to Rs 1,759 crore during 9MFY22. Ebitda margin stood at 8.9 per cent in 9MFY23 as compared to 7.9 per cent in 9MFY22. Total revenue for 9MFY23 stood at Rs 32,245 crore, against Rs 22,190 crore in the same period last year.
The company's net profit stood at Rs 1,918 crore for 9MFY23, against Rs 1,066 crore in 9MFY22. PAT margin stood at 5.9 per cent in 9MFY23 as compared to 4.8 per cent in 9MFY22.
