D-Mart Q2 Results: Q2 profit up 113%- Revenue up 46%

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D-Mart Q2 Results: Q2 profit up 113%- Revenue up 46%

D-Mart Q2 Results: Q2 profit up 113%- Revenue up 46%- Avenue Supermarts, which runs a retail store chain called DMart, reported a standalone net profit of 113.2 percent in the second quarter. The company on Saturday released its results for the second quarter of the current financial year. Avenue Supermarts reported a standalone net profit of Rs 448.90 crore during the July-September quarter as against Rs 210.20 crore in the corresponding quarter of the previous fiscal.

The company’s standalone revenue also grew 46.6 percent to Rs 7,649.64 crore for the second quarter ended September 30, as against Rs 5,218.15 crore in the corresponding quarter of the previous fiscal. Avenue Supermarts informed its results in a regulatory filing sent to the BSE.

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Combining the first and second-quarter results, the company’s total income for the first half of the current financial year stood at Rs 12,681 crore, as against Rs 9,051 crore in the corresponding half of the previous financial year. The company’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) also increased to Rs 891 crore in the first half from Rs 434 crore in the corresponding quarter of the previous fiscal.

The EBITDA margin of Avenue Supermarts stood at 7.0 percent in the first half of the current financial year, as against 4.8% in the corresponding half of the previous financial year. The company’s expenses also increased during this period. Avenue Supermarts’ total expenses for the second quarter stood at Rs 7,085.58 crore, as against Rs 4991.55 crore in the corresponding quarter of the previous fiscal.

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Commenting on the company’s performance, Neville Noronha, CEO and Managing Director, Avenue Supermarts Ltd. said: “The corona-related lockdown restrictions were relaxed significantly during the quarter. The revenue of DMart stores has increased by 46.6% compared to the corresponding quarter of the last financial year.” Shares of Avenue Supermarts closed at Rs 5,329.65, up 4.04 percent on the BSE on Thursday.