DMart Q4 Results: Profit rises 22% to ₹563 crore; margins expand
Summary
Avenue Supermarts’ operating profit or EBITDA jumped 22.3% on-year to ₹944 crore while its operating profit margin also rose to 7.4% as against 7.3% in the March 2023 quarter.
Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday, May 4, reported a 22.5% year-on-year (YoY) growth in its consolidated net profit at ₹563.3 crore for the fourth quarter of the financial year 2024. The same was ₹460 crore in the corresponding quarter of last fiscal.
The company’s revenue for the quarter jumped 20% YoY to ₹12,727 crore, compared to ₹10,594 crore in the year-ago quarter.
The retailer’s operating profit or EBITDA jumped 22.3% YoY to ₹944 crore while its operating profit margin also rose to 7.4% as against 7.3% in the March 2023 quarter.
Basic EPS for the fourth quarter grew to ₹9.28 as compared to ₹7.80 in the same quarter of previous financial year.
Avenue Supermarts, in a stock exchange filing, said that 24 stores were added during the reporting quarter while 41 stores were added in FY24.
“We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9% during FY 2024 as compared to FY 2023. We have 284 stores that are 2 years or older,” said Neville Noronha, CEO and Managing Director, Avenue Supermarts Limited.
Noronha added, “Q4 FY 2024 saw continued uptick in the contribution from General Merchandise and Apparel. Our Gross Margin improvement (Q4 FY 2024 vs Q4 FY 2023) reflects this mix improvement.”
On Friday, shares of Avenue Supermarts Ltd. closed 0.29% higher at ₹4,618.45 apiece on the NSE.
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