Published
May 10, 2021
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Avenue Supermarts Q4 net profit jumps 53 percent to Rs 414 crore

Published
May 10, 2021

Avenue Supermarts Ltd, which owns and operates D-Mart, witnessed a 53 percent rise in consolidated net profit to Rs 414 crore ($56.6 million) in the March quarter, as against a net profit of Rs 271 crore it posted in the year-ago period.
 

Avenue Supermarts Q4 net profit jumps 53 percent to Rs 414 crore - D-Mart - Twitter


The company’s revenue for the quarter rose by 18 percent to Rs 7,412 crore, as compared with Rs 6,256 crore in the corresponding period of the previous fiscal.
 
For the financial year 2020-21, D-Mart reported a 16 percent fall in consolidated net profit to Rs 1,099 crore from Rs 1,301 crore posted in the last financial year while its revenue for FY21 stood at Rs 24,143 crore, falling 3 percent from Rs 24,870 crore in FY20.

Commenting on the results, Neville Noronha, CEO and managing director at Avenue Supermarts Limited in a statement said: “FY 2021 has been a challenging year for our business. The year began amidst a strict lockdown post the emergence of the Coronavirus (Covid-19) towards the end of the last financial year. The economy gradually opened post May 2020 and the second half of the year was progressing towards recovery. However, a much stronger second wave of Covid-19 infections hit the country towards the end of FY 2021 and has once again resulted in significant disruption to our business as several cities and towns have announced restrictions.”
 
“Our construction activity was impacted during the first half of the year. We gradually commenced our store construction activity from the second half of the year and opened 22 new stores during the year, " added Noronha.
 
Avenue Supermarts operates D-Mart stores that sells a range of apparel, home, and personal products under one roof. As of 31 March 2021, the company had 234 operating stores.

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