DMart posts 22 per cent jump in Q4 net profit at Rs 563 crore

Avenue Supermarts, operator of the DMart retail chain, on Saturday, announced a consolidated net profit at Rs 563 crore for the January-March quarter of 2023-24 which represents a 22.4 per cent jump over the corresponding figure of Rs 460 crore for the same quarter of 2022-23.

The company’s total revenue rose by 20 per cent to Rs 12,727 crore during the fourth quarter from Rs 10,594 crore in the same period last year, according to a filing with the stock exchanges.

Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 944 crore growing by 22.3 per cent. EBITDA margin was at 7.4 per cent.

DMart opened 41 new stores during the year taking the total store count to 365.

“Q4 FY 2024 saw continued uptick in the contribution from General Merchandise and Apparel,” Neville Noronha, CEO & Managing Director said in a statement.

“Our e-commerce business commenced operations in one new city (Gurugram) during the year while continuing to deepen its presence in existing cities. We are now present across 23 cities in India,” he added.