Avenue Supermarts, the operator of the D-Mart retail chain, reported a consolidated net profit of Rs 690.41 crore in the third quarter of fiscal year 2023-24, marking a significant 17.09% increase from Rs 589.64 crore in the year-ago period. The standalone net profit also witnessed a robust rise of 14.9% from Rs 641.07 crore in the previous year.
For Q3FY24, Avenue Supermarts posted a consolidated revenue from operations of Rs 13,572.47 crore, indicating a substantial 17.31% year-on-year rise compared to Rs 11,569.05 crore in the December 2022 quarter. The standalone revenue surged by 17.1%, reaching Rs 11,304.58 crore from the previous year.
Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) for Q3FY24 reached Rs 1,120 crore, surpassing the Rs 965 crore recorded in the corresponding quarter of the previous year. The EBITDA margin remained steady at 8.3% in Q3FY24 compared to 8.3% in Q3FY23.
As of 11:41 am, Avenue Supermarts’ shares were trading 0.73% higher at ₹3,868.95, reflecting positive market sentiment following the strong financial performance.
