D-Mart owner Avenue Supermarts sees revenue increase by 35.75% in Q2
In the second quarter of the 2023 financial year, D-Mart’s operator Avenue Supermarts saw its standalone revenue increase by 35.75% year-on-year to reach Rs 10,384.66 crore.
Avenue Supermarts Limited had reported a standalone revenue total of Rs 7,649.64 crore in the July to September financial quarter in the 2022 financial year. “Standalone revenue from operations For the quarter ended September 30, 2022, stood at Rs 10,384.66 crore,” wrote Avenue Supermarts in a regulatory filing, accessed by the Press Trust of India.
D-Mart’s revenue has grown over the past few financial years and has surpassed its pre-pandemic revenue mark. In the second quarter of the pre-Covid 2020 financial year, Avenue Supermarts reported a revenue total of Rs 5,949 crore. The business’ range of ‘essential goods’ enabled it to continue to retail during large portions of Covid-19 retail restrictions which softened the financial blow of the pandemic.
D-Mart retails a multi-brand selection of clothing, home, personal care, and lifestyle products and is positioned in the value to mid-segment of the market. The business counted a total of 302 brick-and-mortar stores across India at the end of September this year and has a presence in states including Gujarat, Maharashtra, Telangana, Tamil Nadu, Karnataka, and Andhra Pradesh among others.
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