DMart Q1 net profit swells 132% to Rs 115 cr, revenue up 31%

Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Saturday reported a 132% jump in its standalone net profit at Rs 115 crore for the quarter ended June 30, 2021.  
 
The company logged a net profit of Rs 50 crore in the year-ago period. Standalone revenue of the company grew 31.3% on-year to Rs 5,032 crore, Avenue Supermarts informed the BSE in a regulatory filing.

Also Read: Avenue Supermarts share ends flat ahead of Q1 earnings
 
DMart's revenue from operations stood at Rs 3,833.23 crore in the April-June quarter a year ago. DMart's strong year-on-year performance can be attributed to a weak base in the year-ago quarter when the nationwide lockdown wrecked earnings. 
 
The company's EBITDA (Earnings before Interest, Tax, Depreciation, and Amortization in Q1FY22 was at Rs 221 crore, as against Rs 109 crore in the corresponding quarter of last year. Q1FY22's EBITDA margin stood at 4.4% as compared to 2.8% in Q1FY21. 
 
DMart's EPS (Basic Earnings per share) for Q1FY22 was at Rs 1.78 crore, as against Rs 0.77 for Q1FY21.

Also Read: D-Mart standalone revenue rises 31.3% to Rs 5,031.75 crore in Q1

"Q1FY22 saw a much stronger second wave of Covid-19 restrictions. We lost significantly more days or had higher restriction on number of hours of store operations compared to the same period last year," said Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited. 
 
On Friday, Avenue Supermart's shares settled at Rs 3,313.30 crore apiece on Sensex, up 0.04% from their previous close. The scrip closed trading 0.27% lower at Rs 3,380 on NSE.