DMart Sees 4.9% Rise in Q3 Net Profit, Revenue Jumps 17.7%
DMart, formally known as Avenue Supermarts and one of India's leading food and grocery retailers, has released its standalone and consolidated financial results for the quarter and three quarters ending December 2024.
The retailer's consolidated net profit rose by 4.9 percent to Rs 724 crore, as per the income data released on Saturday. The net profit for the same quarter last year was Rs 690 crore. The net profit margin was 4.5 percent in the October-December quarter compared to 5.1 percent in the same period the previous year.
The total revenue for the quarter ending in December was Rs 15,973 crore, showing a 17.7 percent increase from Rs 13,572 crore in the same quarter last year.
EBITDA was Rs 1,217 crore in the third quarter, up from Rs 1,120 crore in the corresponding quarter of the prior financial year.
The EBITDA margin was 7.6 percent in the third quarter, down from 8.3 percent in the previous fiscal year. Total revenue for the three quarters from April to December amounted to Rs 44,486 crore, compared to Rs 38,062 crore in the corresponding period last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) in these three quarters stood at Rs 3,532 crore, compared to Rs 3,160 crore in the same period of 2023-24. EBITDA margin stood at 7.9 percent compared to 8.3 percent.
Commenting on the company's performance, Neville Noronha, CEO & Managing Director, Avenue Supermarts Ltd, said, "There is a consistent rise in discounts within the FMCG sector, leading to higher store turnover per square foot in metropolitan areas. Our dedication remains to be the top choice for value retailing for customers near DMart Store or DMart Ready's fulfillment center. In the swiftly changing landscape of the grocery e-commerce sector, DMart is experiencing a much greater demand for home delivery compared to pick-up points, and thus, it is adjusting its operations accordingly. Our home delivery service now surpasses the sales contributions from pick-up points. We will keep offering both delivery options to our customers in specific cities."