Avenue Supermarts Ltd Q3 net profit rises 5 percent to Rs 724 crore

Avenue Supermarts Ltd, which operates the retail chain Dmart reported a 5 percent increase in net profit to Rs 724 crore ($84 million) in the third quarter ended December 31, as against Rs 691 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 18 percent to Rs 15,973 crore, as against Rs 13,572 crore in the corresponding quarter of the previous fiscal year.

For the nine-month period, the hypermarket chain operator posted revenue at Rs 44,486 crore as against Rs 38,062 crore in the same period last year.

Commenting on the Q3 results, Neville Noronha, CEO managing director at Avenue Supermarts Ltd in a statement said, “Our revenue for Q3FY2025 grew by 17.5 percent over the previous year. The Q3FY2025 same store revenue growth for 2 years and older stores was at 8.3 percent. We continue to see 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 versus the previous quarter (Q2FY2025).”

“We stay committed to being the most preferred value retailer to customers in the vicinity of a Dmart store or a fulfilment centre of Dmart Ready,” he added.

During the October-December quarter, the company opened 10 new Dmart stores to end with 387 stores as of December 2024.