The hyper retail chain DMart, owned by Avenue Supermarts on Saturday reported 16% rise in consolidated net profit at ₹447 crore in the December 2020 quarter as compared to ₹384 crore in December 2019. Total revenue has been increased by 11% to ₹7,542 crore as compared to ₹6,808 crore in the year-ago period.
Profit After Tax (PAT) margin stood at 5.9% in Q3FY21 as compared to 5.6% in Q3FY20.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY21 stood at ₹689 crore, as compared to ₹597 crore in the corresponding quarter of last year. EBITDA margin increased to 9.1% in Q3FY21 as compared to 8.8% in Q3FY20.
“The quarter has seen further improvement in our business and financial metrics. Our overall sales and sales mix is now trending very close to our usual times except for specific customer consumption changes post COVID-19. Apparel, laundry, footwear, travel and such relevant out of home usage categories are taking more time to recover,” said Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited.
Noronha added that agile operating expenses management along with a good surge in festival shopping allowed his company to deliver a significantly better quarter than the previous quarters.