New Delhi: Dmart, owned by Avenue Supermarts, has declared its June to September quarterly reports.
According to the exchange report, the company’s overall Revenue increased by 18.50 percent compared to the previous year. In Q2FY24, the company’s EBITDA margin was 8.1%, down from 8.6% in Q2FY23.
Neville Noronha, CEO & Managing Director of Avenue Supermarts Limited, commented on the company’s Q2 2023 performance: “Revenue increased by 18.5% in Q2 FY 2024 compared to the same quarter the previous year. Due to the decreased contribution from the higher margin General Merchandise and Apparel division, our gross margins are still lower than they were during the same time last year. We added nine additional locations throughout the quarter, bringing our total number of shops to 336.”
“Total Revenue for the quarter ended September 30, 2023, stood at ₹12,308 crore, as compared to Rs10,385 crore in the same period last year,” Avenue Supermart Ltd. said in a statement to Indian exchanges on the financial performance. In Q2FY24, earnings before interest, tax, depreciation, and amortisation (EBITDA) were ₹1,002 crore, up from Rs. 895 crore in the same period the previous year. In Q2FY24, the EBITDA margin was 8.1%, down from 8.6% in Q2FY23.”
In Q2FY24, net profit was Rs. 659 crore, down from Rs. 730 crore in the same period the previous year. PAT margin decreased from 7.0% in Q2FY23 to 5.3% in Q2FY24.
In Q2FY24, basic earnings per share (EPS) were Rs. 10.12, compared to Rs. 11.28 in Q2FY23.
In H1FY24, net profit was Rs. 1,354 crore, down from Rs. 1,410 crore in H1FY23. PAT margin decreased from 7.0% in H1FY23 to 5.6% in H1FY24.
In H1FY24, basic earnings per share (EPS) were Rs. 20.82, down from Rs. 21.77 in H1FY23.
In 2002, the company set up shop in Mumbai, Maharashtra. As of September 30, 2023, the company operated 336 shops in the states of Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh, and Punjab, with a total retail business area of 13.9 million square feet.
Trendline reports that Avenue Supermart’s average goal price is Rs 4065.75, 9% more than the current price based on the consensus forecast.
DMart shares ended Tuesday’s trading session on the NSE 1.59% higher at Rs 3,734. This year, the stock has lost 8.3% of its value.
