Dmart Q4 net profit rises 8 percent to Rs 460 crore

By

Maverick Martins

Published
May 15, 2023

Avenue Supermarts, which operates the retail chain Dmart witnessed an 8 percent rise in net profit to Rs 460 crore ($56 million), as against Rs 427 crore reported in the year-ago period.

The company’s revenue for the quarter was up 21 percent to Rs 10,594 crore, as against Rs 8,786 reported in the corresponding period of the previous fiscal year.

For the full year, the company’s revenue increased 38 percent to Rs 42,840 crore against 30,976 crore reported in FY22 while its net profit rose 59 percent to Rs 2,379 crore as compared to Rs 1,493 crore in FY22.

Commenting on the results, Neville Noronha, CEO managing director of Avenue Supermarts Limited in a statement said, “We ended FY 2023 with growth across our key financial parameters of Revenue, EBITDA, and PAT. Lower consumer spending in general merchandise and apparel continues and has impacted the margin mix downwards.”

“Our e-commerce business continued its expansion in our existing 22 cities. We cumulatively expanded our operations in 10 new cities during FY 2023,” he added.

During the 2022-23 fiscal year, Dmart added a total of 40 stores to its network to take the total number of stores as of March 31, 2023, to 324.