Avenue Supermarts Q1 update: Standalone revenue up 18% YoY to Rs 11,584 crore

The total number of D-Mart stores as of June 30, stood at 327, Avenue Supermarts informed the stock exchanges.

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D Mart-operator, Avenue Supermarts, while announcing its Q1 business update of the financial year 2023-24 (April–June 2023), said its standalone revenue from operations for the quarter ended June 30 stood at Rs 11,584.44 crore, a jump of 18 percent compared to the year-ago period.

The company reported a standalone revenue of Rs 9,806.89 crore in Q1 FY22. In Q1 FY21 and Q1 FY20, the company reported a standalone revenue of Rs 5,031.75 crore and Rs 3,833.23 crore, respectively.

The total number of D-Mart stores as of June 30 stood at 327, Avenue Supermarts informed the stock exchanges in a regulatory filing.

While the company shared its business update for the first quarter, the financials result for the April–June 2023 period is yet to be released.

In the fourth quarter FY23, Avenue Supermarts' net profit jumped to Rs 460 crore, up from Rs 427 crore reported in the year-ago period. Sequentially, the net profit went up by 8 percent.

Consolidated revenue from operations during the quarter ended March 2023 grew 21 percent year-on-year to Rs 10,594 crore against Rs 8,786 crore year ago.

On July 3, Avenue Supermarts' shares closed at Rs 3,865.35 apiece (or -24.45 points) at the BSE, 0.63 percent lower, compared to its previous day's close.