DMart Q1 results: Net profit jumps 17.5% YoY to ₹774 crore, revenue up 18.6%

Avenue Supermarts, the operator of FMCG retail chain DMart, logged a net profit of ₹774 crore in the quarter ended June 2024, as per the consolidated financial results declared by the company on Saturday, July 13.

The net profit in Q1 FY25 is 17.5% higher as compared to ₹659 crore reported in the year-ago period.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) jumped 18% year-on-year to ₹1,221 crore in the first quarter of this fiscal, as compared to ₹1,035 crore in the year-ago period. The EBITDA margin stood at 8.7 % in Q1 FY25, which is the same as Q1 FY24.

The basic earnings per share (EPS) for the June 2024 quarter stood at ₹11.89, higher as compared to ₹10.14 in the year-ago period.

Commenting on the Q1 results, Avenue Supermarts CEO Neville Noronha said the company's operating costs have gone up "due to continuing effort on improving service levels and building capability for the future".

"Contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick," he added.

During the quarter under review, six new stores were opened. "Our total stores stand at 371 as on June 30, 2024," Noronha added.

The DMart operator's shares last traded at ₹4,943.65 apiece on the National Stock Exchange (NSE) on Friday, up 0.91% as compared to the preceding settling price. Year-to-date, the stock has climbed by about 21%, whereas the surge has been sharper at around 29% in the last one year.