DMart's revenue jumps by 18.5% YoY to ₹12,308 crore in Q2

Owner of DMart retail chain, Avenue Supermarts Ltd, reported an 18.5% rise in its standalone revenue from operations

Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Wednesday reported an 18.51 per cent increase in its standalone revenue from operations to ₹12,307.72 crore against ₹10,384.66 crore in a year ago period.

The company shares closed 1.31% higher at ₹3722.50 per share on BSE on Tuesday.

Avenue Supermats had registered a revenue from operations of ₹7,649.64 crore in the July-September quarter in FY22, Avenue Supermarts informed BSE in a regulatory filing.

"Standalone Revenue from operations for the quarter ended September 30, 2023, stood at ₹12,307.72 crore," said Avenue Supermarts in the regulatory filing while sharing the company's update at the end of the quarter.

Share value of the retail supermarket chain has fallen by 8.63 per cent YTD. Moreover, its value dropped by 15.89 per year in last one year. Currently the company is operating around 336 DMart stores in India, as on September 30, 2023. In the July-September quarter of FY22, Avenue Supermarts' standalone revenue stood at ₹7,649.64 crore.

In its June quarter, the company reported just a 2.3 per cent year-on year rise in its net profit to ₹695.36 crore, versus ₹680 crore in the year-ago period.

Last quarter, the company managed to improve its net profit by 43 per cent sequentially from ₹460.10 crore in March quarter of FY23. However, the company reported an 18 per cent YoY growth in its revenue in June quarter. In June quarter its revenue stood at ₹11,584.40 crore versus ₹10,038.07 crore a year ago. 

The company is promoted by Radhakishan Damani and his family and focuses on selling basic home and personal products across markets including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.