Avenue Supermarts , which owns and operates D-Mart, reported a 24.7 per cent increase in standalone revenue from operations to R 11,304.58 crore for the third quarter ended 31 December, 2022.
Avenue Supermärts reported revenue from operations of Rs 9,065.02 crore in the October-December quarter a year ago in a regulatory filing on Tuesday.
“Standalone Revenue from Operations for the quarter ended December 31, 2022, stood at Rs 11,304.58 crore,” it said in a quarterly update.
“According to our calculations, LTL growth in Q3FY23 should be in the mid-single digits. The management previously stated that a larger store size takes longer to achieve a stable revenue per square foot state “It stated.
According to the brokerage, price increases in the staple segment were between 3 per cent and 6 per cent in Q3FY23, which should have supported overall revenue growth, as continued soft performance in the value segment may have hurt the ‘non-Staple’ category segment, which contributes 25-30 per cent of the revenue pie.
DMart added four stores in the quarter, compared to Motilal Oswal’s estimate of 12 stores. DMart has added a total of 18 stores in H1FY23.
As of December 31, 2022, there were 306 stores in total.
Avenue Supermarts’ standalone revenue in the previous fiscal year was Rs 7.432.69 crore.
Radhakishan Damani and his family promoted it. Dart sells basic home and personal products in Maharashtra, Gujarat, Daman, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab, and Rajasthan.
DMart also fell 3 per cent in Wednesday trading following the company’s December quarter results.
Previously, the company opened 50 stores in the year through March, its most ever, and wants to tap India’s teeming middle-class.