DMart Q4 Results: PAT grows 22% YoY to Rs 563 crore, revenue up 20%

Avenue Supermarts, which runs the popular DMart chain of retail stores, on Saturday, announced that its consolidated profit for the quarter ended March 2024 has jumped 22.4% to Rs 563 crore as against Rs 460 crore in the corresponding quarter of the previous financial year. The company’s revenue jumped 20% year-on-year (YoY) to Rs Rs 12,727 crore.

The retailer’s EBITDA rose 22.3% YoY to Rs 943 crore while its operating profit margin also growth of 13 bps at 7.41%.

In the March quarter, continued uptick was seen in contribution from general merchandise and apparel. Improvement in gross margins on a YoY basis reflects this mix improvement.

“We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9% during FY 2024 as compared to FY 2023. We have 284 stores that are 2 years or older. We opened 41 new stores during the year and our total store count stands at 365,” said company CEO and MD Neville Noronha.

The company’s e-commerce business commenced operations in Gurugram during the year while continuing to deepen its presence in existing cities. Mumbai-based Avenue Supermarts is now present across 23 cities in India.Basic EPS for Q4 grew to Rs 9.28 as compared to Rs 7.80 in Q4 of FY23.During the quarter, DMart added 24 stores, while 41 stores were added in the entire FY24. As of March 31, 2024, the company had 365 operating stores with Retail Business Area of 15.15 million sq. ft across Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.Avenue Supermart shares ended flat at Rs 4610.35 on Friday.