Avenue Supermarts Ltd., the parent of retail chain D-Mart, declared a healthy Q2 ending September 2024 with a consolidated net profit of ₹659.44 cr. In its regulatory filing, it reports a prudent increase of 5.78 percent over ₹623.35 cr the same quarter a year ago.
The revenues from the operation of the company have seen an increase. At ₹14,444.50 crore for the quarter under review, it had grown 14.41% over the corresponding quarter of the previous fiscal year at ₹12,624.37 crore. This performance underlines the resilience of Avenue Supermarts in a very competitive retail landscape.
However, total expenses during the quarter of September went up to as much as 14.94% to ₹13,574.83 crore. What impresses is that total income, along with other sources of income, has logged a 14.34% rise at ₹14,478.02 crore, showing a healthy financial performance.
D-Mart expanded its footprint by opening six new stores in this quarter, thereby making the total operating stores reach 377 by the end of September 30, 2024. This strategic expansion will help the company to meet its long-term objectives and customer access efforts.
Neville Noronha, CEO and Managing Director of Avenue Supermarts, said about the company, “Overall H1 FY 2025 like-for-like revenue growth was 7.4 percent for stores aged two years and older. Q2 FY 2025 like-for-like revenue growth of this age group of stores stood at 5.5 percent.”.
Led by the prominent businessman Radhakishan Damani and his family, D-Mart has emerged as the biggest retailer of general merchandise for homes and personal needs in various states such as Maharashtra, Gujarat, Telangana, and Tamil Nadu, and many others. The consistent growth and expansion of Avenue Supermarts indicate their strong presence and stable position in the retail industry, which is evidence of strategic visionary capabilities as well as robust operational management.
