Avenue Supermarts Limited or Dmart, a food & grocery retailer in India on Saturday declared its standalone and consolidated financial results for the quarter and half year ended September 30, 2023.
Standalone results
Total Revenue for the quarter ended September 30, 2023 stood at Rs.12,308 crore, as compared to Rs.10,385 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY24 stood at Rs.1,002 crore, as compared to Rs. 895 crore in the corresponding quarter of last year. EBITDA margin stood at 8.1% in Q2FY24 as compared to 8.6% in Q2FY23.
Net Profit stood at Rs. 659 crore for Q2FY24, as compared to Rs. 730 crore in the corresponding quarter of last year. PAT margin stood at 5.3% in Q2FY24 as compared to 7.0% in Q2FY23.
Basic Earnings per share (EPS) for Q2FY24 stood at Rs.10.12, as compared to Rs.11.28 for Q2FY23.
Total Revenue for H1FY24 stood at Rs. 23,892 crore, as compared to Rs. 20,192 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in H1FY24 stood at Rs. 2,038 crore, as compared to Rs. 1,903 crore during H1FY23. EBITDA margin stood at 8.5% in H1FY24 as compared to 9.4% in H1FY23.
Net Profit stood at Rs.1,354 crore for H1FY24, as compared to Rs. 1,410 crore in H1FY23. PAT margin stood at 5.6% in H1FY24 as compared to 7.0% in H1FY23.
Basic Earnings per share (EPS) for H1FY24 stood at Rs.20.82, as compared to Rs.21.77 for H1FY23.
Consolidated results
Total Revenue for the quarter ended September 30, 2023 stood at Rs. 12,624 crore, as compared to Rs.10,638 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY24 stood at Rs. 1,005 crore, as compared to Rs. 892 crore in the corresponding quarter of last year. EBITDA margin stood at 8.0 % in Q2FY24 as compared to 8.4% in Q2FY23.
Net Profit stood at Rs. 623 crore for Q2FY24, as compared to Rs. 686 crore in the corresponding quarter of last year. PAT margin stood at 4.9% in Q2FY24 as compared to 6.4% in Q2FY23.
Basic Earnings per share (EPS) for Q2FY24 stood at Rs. 9.58, as compared to Rs. 10.58 for Q2FY23.
Total Revenue for H1FY24 stood at Rs. 24,490 crore, as compared to Rs. 20,676 crore in the same period last year. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in H1FY24 stood at Rs. 2,040 crore, as compared to Rs. 1,900 crore during H1FY23. EBITDA margin stood at 8.3% in H1FY24 as compared to 9.2% in H1FY23.
Net Profit stood at Rs. 1,282 crore for H1FY24, as compared to Rs. 1,329 crore in H1FY23. PAT margin stood at 5.2% in H1FY24 as compared to 6.4% in H1FY23.
Basic Earnings per share (EPS) for H1FY24 stood at Rs. 19.72 as compared to Rs. 20.51 for H1FY23.
D-Mart follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.
Commenting on the performance of the company Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: “Q2 FY 2024 saw revenue growth of 18.5% as compared to the corresponding quarter of last year. Our gross margins continue to be lower compared to the same period in the previous year due to lesser contribution from the higher margin General Merchandise and Apparel business. We opened 9 new stores during the quarter taking our total store count to 336.”
