Avenue Supermarts, the operator of retail chain DMart opened 6 new stores during the April-June quarter, added two more in July taking the total store count at 373 as on July 13, 2024.
Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said, "We opened 6 new stores during the quarter. Our total stores stand at 371 as on June 30, 2024. Operating costs have gone up due to continuing effort on improving service levels and building capability for the future."
The consolidated revenue for Q1 FY 2025 grew by 18.4 percent at Rs 14,069 crore. Contribution from General Merchandise and Apparel continued to improve during the quarter and this is reflected in the gross margin uptick (Q1 FY 2025 vs Q1 FY 2024).
According to analysts, DMart's revenue growth is driven by higher inflation and store expansion. Last financial year, the revenue per square foot has been on the rise. In comparison, during the preceding three years, the revenue per square foot remained subdued due to the addition of large-size stores and weak discretionary spending (which has a revenue contribution of 23-25 percent).
The total number of stores as of June 30, 2024 stood at 371 (including one store at Rajkot, Gujarat which is temporarily closed for customers), the company said in a regulatory filing on July 2, 2024. In the last quarter of FY24 DMart added 24 stores.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs.1,221 crore. EBITDA margin stood at 8.7 percent in Q1FY25 same as Q1FY24.
On July 12, shares of Avenue Supermarts closed 1.15 percent higher at Rs 4953.35 apiece on BSE.
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