D-Mart's Q1 Net Profit Zooms 2.5% To Rs 659 Crore, Stock Soars 10% In 3-Months

Leading retail chain D-Mart operator Avenue Supermarts Ltd on July 15 declared a marginal 2.46% surge in its consolidated net profit at Rs 658.71 crore in April-June 2023 quarter, as reduced sales of apparel and general merchandise affected the margins, as per its BSE filing. Meanwhile, Avenue Supermarts Ltd shares witnessed a rally of 4% in last 1-month and 10% in last 3-months. However, Avenue Supermarts stock declined 6% YTD (year-to-date). Check details below:

Earlier, it announced its net profit at Rs 642.89 crore in the corresponding quarter a year ago, as per its regulatory filing. Meanwhile, the revenue from operations surged 18.20% to Rs 11,865.44 crore during the quarter under consideration as against Rs 10,038.07 crore in the same quarter preceding fiscal.

Avenue Supermarts' total expenses declared at Rs 11,006.92 crore, up 19.74 per cent in first quarter of FY24. Total income of Avenue Supermarts for June quarter was at Rs 11,904.18 crore, up 18.24%, according to a PTI report.

Neville Noronha, Avenue Supermarts CEO & Managing Director said, "Overall gross margins are lower compared to the same period in the previous year, primarily due to lower sales contribution of apparel and general merchandise."

"However, general merchandise contribution is recovering and trending towards pre-pandemic levels," added Neville Noronha.

During the June quarter, D-Mart opened three new stores, taking the total count to 327 with a retail business area of 13.5 million square feet.

Stock Performance: Last trading price of Avenue Supermarts share is Rs 3845.50 per share with intraday gain of 0.61% on BSE. Its 52-week high price is Rs 4606.00 per share and 52-week low price is Rs 3292.65 per share, respectively. The market capitalisation of the comapny is Rs 2,50,239.40 crore. Avenue Supermarts stock declined 1.99% in last 1-year, rallied 15% in last 2-years, and offered 79% return in last 3-years. In last 5-years, Avenue Supermarts shares delivered return of 144%.