Avenue Supermarts Q2 net profit rises 6 percent to Rs 660 crore

Avenue Supermarts Ltd, the parent firm of Dmart stores reported a 6 percent increase in net profit to Rs 660 crore ($78.5 million), as against Rs 624 crore in the year-ago period.

The company’s revenue for the quarter rose by 14 percent to Rs 14,444 crore, as against Rs 12,624 crore in the corresponding quarter of the previous fiscal year.

Commenting on the results, Neville Noronha, CEO managing director of Avenue Supermarts Limited in a statement said, “Overall H1FY25 like-for-like revenue growth was 7.4 percent for two years and older stores. The Q2FY25 like-for-like revenue growth for the same cohort of stores was at 5.5 percent.”

“We clearly see the impact of online grocery formats including Dmart Ready in large metro Dmart stores which operate at a very high turnover per square feet of revenue. Dmart Ready business grew by 21.8 percent in H1FY25,” he added.

During the July-September quarter, Avenue Supermarts Ltd opened 6 new stores to end with a total store count of 377 as on September 30, 2024.