Avenue Supermarts Ltd, which operates the retail chain Dmart reported a 17 percent increase in consolidated net profit to Rs 774 crore ($92.7 million) for the first quarter of the financial year 2024-25, as against Rs 659 crore in the year-ago period.
The company’s revenue for the quarter rose by 19 percent to Rs 14,069 crore, as against Rs 11,865 crore reported in the corresponding quarter of the previous year.
Commenting on the results, Neville Noronha, CEO managing director of Avenue Supermarts Ltd in a statement said, “Our revenue for Q1 FY 2025 grew by 18.4%. Contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick.”
“Operating costs have gone up due to continuing effort on improving service levels and building capability for the future,” he added.
During the April-June quarter, Dmart opened 6 new stores to end with a total store count of 371 as on June 30, 2024.
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