DMart Q3 net profit rises around 5%, revenue soars 17.7%
According to the earnings data released Saturday, the retailer's consolidated net profit rose 4.9 per cent to Rs 724 crore. In the same quarter of last year, the net profit was Rs 690 crore.
ANI
Jan 12, 2025 10:03 IST
New Delhi [India], January 12 (ANI): Avenue Supermarts, one of the largest food and grocery retailers in India branded as DMart, declared its standalone and consolidated financial results for the quarter and three quarters that ended in December 2024.
According to the earnings data released Saturday, the retailer's consolidated net profit rose 4.9 per cent to Rs 724 crore. In the same quarter of last year, the net profit was Rs 690 crore.
Net profit margin stood at 4.5 per cent in the October-December quarter as compared to 5.1 per cent in the same quarter of last fiscal.
Total Revenue for the quarter ended December stood at Rs 15,973 crore, as compared to Rs 13,572 crore in the same period last year, an increase of 17.7 per cent.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 stood at Rs 1,217 crore, as compared to Rs 1,120 crore in the corresponding quarter of last fiscal.
EBITDA margin stood at 7.6 per cent in Q3 as compared to 8.3 per cent last fiscal.
In the three quarters through April-December, the total revenue stood at Rs 44,486 crore, as compared to Rs 38,062 crore in the same period last year.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in these three quarters stood at Rs 3,532 crore, as compared to Rs 3,160 crore same period of 2023-24.
EBITDA margin stood at 7.9 per cent as compared to 8.3 per cent.
Commenting on the performance of the company, Neville Noronha, CEO and Managing Director, Avenue Supermarts Limited, said, "We continue to see increased intensity in discounting in the FMCG category and the consequent impact to high turnover per square feet stores in metro towns."
"We stay committed to being the most preferred value retailer to customers in the vicinity of a DMart store or a Fulfilment centre of DMart Ready."
In the rapidly evolving dynamics of the grocery e-commerce market, DMart is seeing significantly more demand for home delivery compared to pick-up point and hence it continues to align its business to that extent.
"Our home delivery business now far exceeds our pick-up point sales contribution. We will continue to provide both channels of delivery as an option to our shoppers in select towns. In several towns we now only operate 'Home Delivery' as a delivery channel," said the CEO and MD said.
Also, the parent company of DMart, announced that Neville Noronha will not be offering his candidature for renewal of his role as the Managing Director and CEO after his current term in January 2026 - a year from now.
After more than two decades of exceptional leadership and a glorious tenure at the helm of the business, Neville has chosen not to extend his contract, the company informed stock exchanges.
"The Board of Directors honours his decision and expresses profound gratitude for his extraordinary contribution to the company. The Board has appointed Anshul Asawa as the CEO Designate, effective March 15th, 2025," the exchange filing read.
Neville joined DMart in January 2004. (ANI)
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