DMart Q4 Results 2024: Avenue Supermarts Sees Over 22 pc Surge in Quarterly Profit - Details
dmart’s parent company avenue supermarts sees over 22.4 pc surge in quarterly profit – details
Avenue Supermarts, the parent company of the widely popular DMart retail chain, made a significant announcement on Saturday regarding its financial performance for the quarter ending March 2024.
The company reported a consolidated profit of Rs 563 crore, marking a 22.4 per cent increase from Rs 460 crore recorded in the same quarter of the previous fiscal year. Additionally, Avenue Supermarts witnessed a remarkable 20 per cent year-on-year growth in revenue, reaching Rs 12,727 crore.
In terms of operational metrics, the retailer’s EBITDA surged by 22.3 per cent year-on-year to Rs 943 crore. Moreover, there was a noteworthy improvement in the operating profit margin, which grew by 13 basis points to 7.41 per cent.
“We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9% during FY 2024 as compared to FY 2023. We have 284 stores that are 2 years or older. We opened 41 new stores during the year and our total store count stands at 365,” said company CEO and MD Neville Noronha.
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On Friday, the shares of Avenue Supermarts closed at Rs 4,618.45, 0.29 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 4,890 and Rs 3,352 respectively.