Avenue Supermarts Ltd, the parent company of the D-Mart retail chain, reported a notable 17.45% increase in consolidated net profit for the June quarter, reaching ₹773.68 crore. This growth was primarily driven by strong performance in the general merchandise and apparel segments.
In comparison, the company had posted a net profit of ₹658.71 crore during the same period last year, as indicated in a regulatory filing. This year’s robust performance highlights Avenue Supermarts’ ability to capitalize on market opportunities and enhance profitability.
Revenue from operations surged by 18.57% to ₹14,069.14 crore, up from ₹11,865.44 crore in the corresponding quarter of the previous fiscal year. This substantial revenue growth reflects the company’s successful strategies in expanding market presence and product offerings.
Total expenses for the June quarter increased by 18.62% to ₹13,056.61 crore. Despite the rise in expenses, the company maintained a strong profit margin, demonstrating effective cost-management practices.
The total income for the quarter also grew by 18.54%, reaching ₹14,110.74 crore. This consistent increase in income further underscores the company’s strong financial performance. During the quarter, D-Mart expanded its footprint by opening six new stores, bringing the total store count to 371 as of June 30, 2024. This expansion highlights the company’s commitment to growing its market reach and serving a larger customer base.
Under the leadership of Radhakishan Damani and his family, D-Mart offers essential home and personal products across various regions in India, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, and NCR. This extensive presence solidifies the company’s position as a key player in the Indian retail sector, delivering essential goods to a wide customer base.