The company that owns and runs the D-Mart retail chain, Avenue Supermarts Ltd., announced a notable 17.45 percent gain in consolidated net profit for the June quarter, coming in at Rs 773.68 crore. The general merchandise and apparel industries‘ improved sales were the main drivers of this development.
In contrast, a regulatory filing from Avenue Supermarts states that the company reported a net profit of Rs 658.71 crore for the April–June period of the previous year. The strong success this year demonstrates the business’s capacity to seize market opportunities and increase profitability.
The review period witnessed a noteworthy 18.57 percent surge in revenue from operations, totaling Rs 14,069.14 crore, compared to Rs 11,865.44 crore during the equivalent quarter of the preceding fiscal year. The company’s effective methods for growing its market presence and product offerings are emphasized by this significant revenue growth.
Furthermore, Avenue Supermarts incurred Rs 13,056.61 crore in total expenses during the June quarter, an increase of 18.62 percent. The business demonstrated good cost-management techniques by keeping a healthy profit margin in spite of the rise in expenses.
At Rs 14,110.74 crore in the June quarter, the company’s overall income increased by 18.54 percent. The company’s good financial success over this time period is further supported by this steady increase in revenue.
The CEO and Managing Director of Avenue Supermarts, Neville Noronha, said: “The gross margin increased throughout the quarter due to the improvement in general merchandise and apparel contributions. Operating expenditures have increased as a result of ongoing efforts to raise service standards and develop long-term capacity.
D-Mart added six additional locations during the quarter, increasing its total number of stores to 371 as of June 30, 2024. This growth is evidence of the company’s continuous endeavors to broaden its customer base and enhance its market penetration.
D-Mart, a retail store owned and operated by Radhakishan Damani and his family, serves a variety of Indian markets, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, and National Capital Region. With its extensive reach, the company is able to maintain its position as a major player in the Indian retail industry by providing a wide range of customers with necessary products.
