Avenue Supermarts Q3 Results FY2023, Net Profit at Rs.590 Crores

On 14th January 2023, Avenue Supermarts announced its results for the third quarter of FY2023.

Key Highlights:

- Total Revenue for the quarter stood at Rs. 11,569.05 crores. 
- EBITDA stood at Rs.965 crore. EBITDA margin stood at 8.3 % in Q3FY23. 
- Profit before tax was reported at Rs. 811.75 crores.
- Net Profit stood at Rs.590 crore for Q3FY23. PAT margin stood at 5.1% in Q3FY23 as compared to 6.0% in Q3FY22. 
- Basic Earnings per share (EPS) for Q3FY23 stood at Rs. 9.10.

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Ltd, said: 

DMart (Brick and Mortar) Business Overview:

“Q3 saw our revenues grow by 24.7% over the corresponding quarter of last year. FMCG and the staples segment continued to outperform the general merchandise and apparel segments. The gross margin percentage decline over the corresponding quarter of last year is a reflection of this mix change. Discretionary non-FMCG sales did not do as well as expected in this quarter.”

DMart Ready:

“ We have further expanded our E-Commerce operations in 4 new cities while continuing to deepen our presence in the existing 18 cities. Our operations now span across 22 cities in India.”

Pharmacy Shop-in-shop:

“We are in the process of commencing a pharmacy shop-in-shop through one of our subsidiary (Reflect Healthcare and Retail Private Limited) at one of our stores. This is yet another pilot that will complement our brick-and-mortar business using our existing store infrastructure.”