E-commerce business arm of Avenue Supermarts, DMart Ready reported over two-fold increase in revenue at Rs 1,667.21 crore in FY22, even as its loss widened to Rs 142.07 crore.
Avenue Supermarts Ltd owns and operates retail chain D-Mart.
However, Avenue E-Commerce Ltd (AEL), a subsidiary of Avenue Supermarts engaged in the business of online and multi-channel grocery retail under the brand name of DMart Ready, had posted a revenue of Rs 791.29 crore in the FY 2021.
"AEL's revenue from operations for FY 2022 stood at Rs 1,667.21 crore vis-à-vis Rs 791.29 crore in the FY 2021. The company registered a loss of Rs 142.07 crore in FY 2022 against the loss of Rs 80.62 crore in FY 2021," said the latest annual report of Avenue Supermarts.
DMart Ready, which completed five years of service in the e-commerce space in January 2022, has expanded its coverage to include over 500 pin codes in nine cities, AEL's customers can order grocery and household products through its mobile app and website.
It delivers the order to customers' doorstep and also has self-pick-up points. At many Pick-up Points, it also offers a select range of merchandise available for instant purchase.
AEL also operates a small format grocery store under the brand name, DMart miniMAX. It has two DMart miniMAX stores - one in Mumbai and another in Hyderabad.
DMart's revenue from operations in FY22 was at Rs 30,353 crore.
It had added 50 stores in FY 2021-22, taking its total count to 284 stores, spread across 10 states, one union territory and NCR at the end of the financial year.