DMart's Q2 2023-24 net profit slips 9.09% YoY to Rs 623.35 crore; but revenue surges
The company's consolidated net profit for this period was Rs 623.35 crore, marking a 9.09 percent decrease from the Rs 685.71 crore recorded in the same quarter last year.
- Oct 14, 2023,
- Updated Oct 14, 2023 1:26 PM IST
Avenue Supermarts, the company behind the retail chain DMart, released its financial results for the second quarter of the 2023-24 fiscal year on October 14. The company's consolidated net profit for this period was Rs 623.35 crore, marking a 9.09 percent decrease from the Rs 685.71 crore recorded in the same quarter last year.
In comparison to the previous quarter, the company saw a 5.36 percent decline in its consolidated net profit, which dropped from Rs 658.71 crore to its current figure.
Looking at standalone net profit, there was a 10.91 percent reduction, with the company reporting Rs 658.54 crore for Q1FY24, as opposed to the Rs 730.4 crore achieved in the corresponding quarter of the previous year.
However, there was a notable positive trend in the company's revenue from operations. Avenue Supermarts reported an impressive 18.66 percent year-on-year increase in consolidated revenue, with a total of Rs 12,624.37 crore in the current period compared to Rs 10.638.33 crore in the same period last year. This revenue also saw a 6.39 percent rise from the previous quarter, which stood at Rs 11,865.44 crore.
In the second quarter of the fiscal year 2023-24, Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) amounted to Rs. 1,005 crore, showing an increase from the Rs. 892 crore reported during the same period in the previous year. The EBITDA margin for Q2FY24 was 8.0 percent, down from 8.4 percent in Q2FY23.
Avenue Supermarts' stock price on the National Stock Exchange closed at Rs 3,920 on October 13, marking a 1.48 percent rise compared to the previous day.
Also Read
RK Damani stock: DMart climbs 4% on Q2 biz update; what analysts say
'Stand in line, it's crowded': Zepto's Aadit Palicha says he loves DMart but…
Avenue Supermarts, the company behind the retail chain DMart, released its financial results for the second quarter of the 2023-24 fiscal year on October 14. The company's consolidated net profit for this period was Rs 623.35 crore, marking a 9.09 percent decrease from the Rs 685.71 crore recorded in the same quarter last year.
In comparison to the previous quarter, the company saw a 5.36 percent decline in its consolidated net profit, which dropped from Rs 658.71 crore to its current figure.
Looking at standalone net profit, there was a 10.91 percent reduction, with the company reporting Rs 658.54 crore for Q1FY24, as opposed to the Rs 730.4 crore achieved in the corresponding quarter of the previous year.
However, there was a notable positive trend in the company's revenue from operations. Avenue Supermarts reported an impressive 18.66 percent year-on-year increase in consolidated revenue, with a total of Rs 12,624.37 crore in the current period compared to Rs 10.638.33 crore in the same period last year. This revenue also saw a 6.39 percent rise from the previous quarter, which stood at Rs 11,865.44 crore.
In the second quarter of the fiscal year 2023-24, Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) amounted to Rs. 1,005 crore, showing an increase from the Rs. 892 crore reported during the same period in the previous year. The EBITDA margin for Q2FY24 was 8.0 percent, down from 8.4 percent in Q2FY23.
Avenue Supermarts' stock price on the National Stock Exchange closed at Rs 3,920 on October 13, marking a 1.48 percent rise compared to the previous day.
Also Read
RK Damani stock: DMart climbs 4% on Q2 biz update; what analysts say
'Stand in line, it's crowded': Zepto's Aadit Palicha says he loves DMart but…