Retail corporation Avenue Supermarts Ltd. on Saturday revealed the performance results of retail chain D-Mart for Q2FY22, which ended September 30. The company announced that it has witnessed a jump of 113.2 per cent standalone net profit at Rs 448.90 crores during the July-September quarter. The company had recorded a net profit of Rs. 210.20 crore in the corresponding quarter a year ago.
In a regulatory filing to the BSE on October 16, Avenue Supermart stated that D-Mart’s total revenue for Q2FY22 stood at Rs. 7,649.64 crores, increasing 46.6 per cent from the same period a year ago.
Neville Noronha, CEO and Managing Director of Avenue Supermarts Ltd., accounted for the easing of COVID-19 related lockdown restrictions during the second quarter as the reason for the increase in performance metrics across its stores. He also disclosed that all D-Mart stores that had been operating for more than two years grew by 23.7 per cent in September 2021 as compared to September 2020.
The regulatory filing further stated that the Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY22 stood at Rs 670 crore, as opposed to Rs 325 crore in the corresponding quarter of 2020. Subsequently, the EBITDA margin for Q2FY22 was 8.8 per cent.
Moreover, the Profit After Tax (PAT) margin stood at 5.8 per cent in Q2FY22 as compared to 4.0 per cent in Q2FY21. Basic Earnings per share (EPS) for Q2FY22 were at Rs 6.93, an increase from the Rs 3.25 EPS for the corresponding quarter last year.
The half-yearly results for the financial year 2022 recorded total revenue of Rs. 12,681 crores, as compared to Rs. 9,051 in H1FY22. Meanwhile, the EBITDA for H1FY22 stood at Rs. 891 crores and EBITDA margin were calculated to be 7.0 per cent in comparison with 4.8 per cent in the first half of the financial year 2021.
Total expenses in the second quarter of FY22 were Rs. 7,058 crores as opposed to Rs. 4,991.55 crores in the corresponding quarter last year. Shares of Avenue Supermarts Ltd. closed at Rs. 5,329.65 on the BSE on Thursday, October 14, an increase of 4.04 per cent from the previous close of Rs. 5,122.55.