DMart reports rise in net profit to ₹552.53 cr from ₹446.95 cr in Q3

The total revenue of the company stood at Rs 9,281 crore at 22 per cent growth compared to Rs 7,542 crore in the year-ago quarter.

Avenue supermarkets limited (DMart), the Indian retail company released its Q3 results on Jan 8, 2022, today. The consolidated financial results showcased a 23.71 per cent year-on-year (YoY) jump at Rs 553 crore for the December quarter compared with Rs 447 crore in the corresponding quarter of last year.

The total revenue of the company stood at Rs 9,281 crore at 22 per cent growth compared to Rs 7,542 crore in the year-ago quarter. EBITDA increased by 25.6 per cent to Rs 868 crore. Net profit of the company hit of to Rs 552.53 crore YoY from Rs 446.95 crore.

The report also highlighted that 29 new stores have opened. DMart share prices were at 4,744.95 INR (+39.30)  today at NSE Sensex. PAT margin for the quarter improved to 6 per cent, up 10 basis points over 5.9 per cent in the same quarter last year, the company said in a BSE filing. CEO & Managing Director Neville Noronha said overall gross margins were marginally lower due to mix deterioration.

“Inflation and lesser opportunities to go out are negatively impacting certain categories more than others. We are seeing higher inflation as an opportunity to make our buying more efficient, our assortment sharper and continue to keep our costs low,” Noronha said.

“Considering the current Covid wave, our sales and footfalls will be dependent on local regulations. We continue to take all precautions to ensure every shopper, employee and partner is operating in a safe environment,” he added

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