DMart Q1 Update: Revenue Surges 18% YoY to Rs 11,584 Cr
Avenue Supermarts, the leading operator of DMart retail chain in India, has announced impressive standalone revenue figures for the first quarter of FY24. The company achieved a noteworthy standalone revenue of ₹11,584.44 crore, marking a significant year-on-year growth of 18.13%. This strong performance highlights the continued success of the company, backed by billionaire Radhakishan Damani.
The latest figures also reveal a remarkable triple-digit growth of 202.21% since the onset of the pandemic in 2020, demonstrating Avenue Supermarts' ability to adapt and thrive during challenging times. The company's regulatory filing indicated a standalone revenue from operations of ₹11,584.44 crore for the quarter ending June 30, 2023, surpassing market expectations.
In comparison to the same quarter last year, Avenue Supermarts experienced a growth of 18.13% from revenue of ₹9,806.89 crore. Additionally, the Q1FY24 revenue increased by 12.07% compared to the revenue of ₹10,337 crore in Q4 of FY23, indicating a strong upward trend.
The company also disclosed its standalone revenue figures for the corresponding quarter in the past three years. In June 2021, Avenue Supermarts generated revenue of ₹5,031.75 crore, showing significant growth from ₹3,833.23 crore in June 2020. These figures underscore the impressive growth trajectory of the company during this period.
With a total of 327 stores operating as of the quarter ending June 30, 2023, Avenue Supermarts continues to expand its presence in the retail sector, solidifying its position as a leading player in the Indian market.
For the full fiscal year FY23, Avenue Supermarts reported a total revenue of ₹41,833 crore, surpassing the previous fiscal year's revenue of ₹30,353 crore. The company's EBITDA for FY23 amounted to ₹3,659 crore, indicating significant growth compared to ₹2,502 crore in FY22. Moreover, the company improved its EBITDA margin from 8.2% in FY22 to 8.7% in FY23, illustrating enhanced operational efficiency.
Avenue Supermarts' net profit for FY23 reached ₹2,556 crore, displaying substantial growth from ₹1,616 crore in FY22. The company's profit margin after tax (PAT) increased to 6.1% in FY23, up from 5.3% in FY22, indicating improved profitability and financial stability.
The company's basic Earnings per Share (EPS) experienced substantial growth, reaching ₹39.46 as of March 31, 2023, compared to the previous fiscal year's figure of ₹24.95. This increase in EPS highlights Avenue Supermarts' ability to generate value for its shareholders.
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