Avenue Supermarts Q2 Result | Profit rises 110% to Rs 418 crore, revenue grows 47% to Rs 7,789 crore

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Avenue Supermarts, #Results

Avenue Supermarts, which operates DMart chain of retail stores, has reported consolidated profit after tax of Rs 417.76 crore for the quarter ended September 2021, increasing by 110.4 percent from Rs 198.55 crore in September 2020 quarter.

Consolidated revenue came in higher by 46.8 percent at Rs 7,789 crore for the quarter, compared to Rs 5,306.20 crore in September 2020 quarter, with the easing Covid-19 related lockdown restrictions.

“Revenue in the DMart stores grew by 46.6 percent over the corresponding quarter of last year. Two years and older DMart stores grew by 23.7 percent in the month of September 2021 as compared to September 2020. We have 187 stores that are 2 years or older,” said Neville Noronha, CEO & Managing Director at Avenue Supermarts.

The stock closed at Rs. 5,323.75 on Thursday, up Rs. 206.6 (4.04%) on the back of better results expectations. It has generated 169% returns over the past one year, close to 60% over the past 3 months and 33.77% over the past 1 month.

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