Avenue Supermarts, the operator of the DMart retail chain, announced a 6.6 per cent increase in consolidated post-tax profit of Rs 590 crore for the quarter ending December 2022, compared to Rs 553 crore the previous year.
Total revenue for the October-December quarter was Rs 11,569 crore, up from Rs 9,218 crore in the same time the previous year. This represents a 25.5 per cent increase year on year.
As per company’s regulatory filing, the total Standalone revenue for the quarter ended 31 December 2022 stood at Rs. 11,305 crore, as compared to Rs. 9,065 crore in the same period last year.
Standalone net profit stood at Rs. 641 crore for quarter three financial year 2023 (Q3FY23), as compared to Rs. 586 crore in the corresponding quarter of last year. PAT margin stood at 5.7 per cent in Q3FY23 as compared to 6.4 per cent in Q3FY22, it said.
Consolidated total revenue for the quarter ended 31 December 2022 stood at Rs. 11,569 crore, as compared to Rs. 9,218 crore in the same period last year.
“D-Mart follows Everyday low cost – Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices,” the company said.
DMart (Brick and Mortar) Business in Q3 saw its revenues grew by 24.7 per cent over the corresponding quarter of last year. The FMCG and staples segment continued to outperform the general merchandise and apparel segments, it said.
Gross margin percentage decline over the corresponding quarter of last year is a reflection of this mix change. Discretionary non-FMCG sales did not do as well as expected in this quarter, the company added.
DMart Ready has further expanded its e-commerce operations in 4 new cities while continuing to deepen its presence in the existing 18 cities. The company’s operations now span across 22 cities in India, as per the statement.
The company is in the process of commencing a pharmacy shop-in-shop through one of its subsidiaries (Reflect Healthcare and Retail Private Limited) at one of its stores.
“This is yet another pilot that will complement our brick and mortar business using our existing store infrastructure,” the company added.