In a regulatory filing, DMart operator Avenue Supermarts reported a 17.45 per cent increase in consolidated net profit for the first quarter ending 30th June 2024 (Q1 FY ’25), to Rs. 773.68 crore, from Rs. 658.71 crore in the corresponding quarter the previous year.
Its profit after tax (PAT) margin in Q1 FY ’25 was 5.5 per cent, which is identical to the first quarter of the previous fiscal year.
According to a BSE report, DMart’s total revenue for the first quarter of 2024–25 increased by 18.57 per cent to Rs. 14,069.14 crore from Rs. 11,865.44 crore during the same time 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) was Rs. 1,221 crore, compared to Rs. 1,035 crore in the same time the previous fiscal year. Similar to Q1 FY ’24, their EBITDA margin was 8.7 per cent in Q1 FY ’25.
On the company’s quarterly performance, Neville Noronha, CEO and Managing Director, DMart said, “Our revenue for Q1 FY 2025 grew by 18.4 per cent. The contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick in Q1 FY ’25 as compared to Q1 FY ’24.”
During the quarter, DMart has opened 6 new stores and the total count stands at 371 as of 30th June 2024.
