Avenue Supermarts, which operates under the brand name DMart, posted in-line results with respect to profit and revenue for the January-March quarter of the financial year 2022-23 (Q4FY23). 

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The market veteran Radhakishan Damani-promoted company registered around 8 per cent growth year-on-year (YoY) in consolidated net profit to Rs 460 crore in the March quarter of the previous fiscal as compared to Rs 427 crore in the corresponding quarter of the fiscal year 2021-22.

The company reported a 21 per cent rise in its consolidated total revenue to Rs 10,594 crore for the quarter that ended March 2023 against Rs 8,786 crore in the same quarter a year ago.

Zee Business research analysts had estimated that the company’s profit and revenue would come at Rs 495 crore and Rs 10,337 crore during the last quarter of FY23.

On a standalone basis, the net profit grew 8.3 per cent to Rs 505.21 crore against Rs 466.35 crore registered in the March 2022 quarter. Revenue from operations came in at Rs 10,337.12 crore, up 20 per cent against Rs 8,606.09 crore in the March 2022 quarter.

The company’s consolidated Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY23 stood at Rs 772 crore, as compared to Rs 739 crore in the corresponding quarter of last year, Avenue Supermarts said in its results filing. 

While the consolidated EBITDA margin stood at 7.3 per cent in Q4FY23 as compared to 8.4 per cent in Q4FY22, the retail chain company said in its earnings report.

“We ended FY23 with growth across key financial parameters of Revenue, EBITDA and PAT. Revenue growth of FMCG and staples continues to outperform General Merchandise and

Apparel. Lower consumer spending in General Merchandise and Apparel continues and has impacted the margin mix downwards,” Neville Noronha, CEO & Managing Director, Avenue Supermarts said in his statement.

“We continued to expand our store footprint and opened 40 new stores during the year taking a cumulative total to 324 stores,” the CEO and MD of DMart further said.

Avenue Supermarts Limited is a Mumbai-based company, which owns and operates D-Mart stores. It is a national supermarket chain that offers customers a range of home and personal products under one roof. DMart offers a wide range of products with a focus on foods, non-foods (FMCG), and others.