Avenue Supermarts, which operates the retail chain DMart, on January 11, reported a 4.9 percent increase in consolidated net profit at Rs 723.54 crore for the December 2024 quarter. It reported a net profit of Rs 690 crore in the corresponding quarter.
Its consolidated revenue grew 17.6 percent at Rs 15,973 cr vs Rs 13,572 in the corresponding quarter.
The company reported its EBITDA margin at 7.6 percent in Q3 FY25 vs 8.3 percent in Q3 FY24.
PAT margin also decreased 5 percent vs 5.5 percent YoY.
Avenue Supermarts' total expenses in the December quarter rose to ₹15,001.64 crore from ₹12,656.46 crore in the same period last year.
Avenue Supermarts CEO and Managing Director Neville Noronha said, "The Q3 FY 2025 same-store revenue growth for 2 years and older stores was at 8.3 per cent. We continue to see the increased intensity in discounting in the FMCG category and the consequent impact to high turnover per square feet stores in metro towns".
However, this quarter, the impact has relatively reduced compared to the previous quarter (Q2 FY2025).
On its online ordering service DMart Ready, Noronha said it grew by 21.5 per cent in the first nine months of FY 2025.
"In the rapidly evolving dynamics of the grocery e-commerce market, we are seeing significantly more demand for home delivery compared to the pick-up point, and hence, we continue to align our business to that extent," he added.
Now, D-Mart's home delivery business far exceeds our pick-up point sales contribution, he noted.
"We will continue to provide both channels of delivery as an option to our shoppers in select towns. In several towns, we now only operate Home Delivery as a delivery channel," Noronha said.
As of December 31, 2024, the company had 387 operating stores with a retail business area of 16.1 million sq.
Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh and Daman.
CEO Neville Noronha has decided to not renew his candidature at DMart. His term ends in January 2026, after which Unilever's Anshul Asawa will succeed him. Anshul Asawa, an IIT Roorkee and IIM Lucknow alumnus, will be joining DMart after a 30-year long stint at
Unilever where he had leadership roles overseeing the growth of product categories and developing impactful functions in India, Asia, and Europe.
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