Revenue rises 39 percent to Rs 4,872 crore; adds three stores during quarter under review.
Avenue Supermarts, the operator of D-Mart chain of stores, posted 19 percent year-on-year (YoY) growth in its net profit at Rs 226 crore. The company had posted a net profit of Rs 190.3 crore during the same quarter last year.
The firm’s revenue rose 39 percent to Rs 4,872 crore against Rs 3,507 crore during the corresponding quarter of last year.
At an operating level, the company reported an earnings before interest, taxes, depreciation and amortization (EBITDA) of Rs 390 crore. This is a growth of 23 percent against Rs 317 crore that the firm posted last year.
The operating margin has been reported at 8 percent for the quarter under review. This is a one percentage point fall from 9 percent in Q2 of FY18.
The company further informed that it added three stores during the quarter.
Basic earnings per share (EPS) for Q2 of FY19 stood at Rs 3.62 against Rs 3.06 last year.“During the quarter, we continued to bring prices down for our customers across categories. Our revenue growth in Q2 is a reflection of these price cuts,” Neville Noronha, CEO and managing director of Avenue Supermarts said in a statement.