D-Mart Q4 Net Profit Up 22.39% to Rs 563 Cr
May 04, 2024 19:19
Avenue Supermarts, owner of D-Mart, reported a 22.39% increase in net profit for Q4 FY24, reaching Rs 563 crore. Revenue also grew significantly, driven by strong performance in general merchandise and apparel.
New Delhi, May 4 (PTI) Avenue Supermarts Ltd, which owns and operates D-Mart stores, on Saturday reported a 22.39 per cent rise in consolidated net profit at Rs 563 crore for the fourth quarter ended March 2024.
The company had posted a consolidated net profit of Rs 460 crore in the corresponding quarter of the previous fiscal, Avenue Supermarts said in a regulatory filing.
Its consolidated total revenue for the quarter stood at Rs 12,727 crore compared to Rs 10,594 crore a year ago, it added.
For the fiscal ended March 2024, the company said its consolidated net profit stood at Rs 2,536 crore against Rs 2,378 crore in FY23.
The company's consolidated total revenue for FY24 was Rs 50,789 crore compared to Rs 42,840 crore in FY23.
Avenue Supermart CEO & Managing Director Neville Noronha said DMart, the brick-and-mortar business, ended the year with growth across key financial parameters of revenue, EBITDA and PAT.
The company opened 41 new stores during the year, and its total store count stands at 365.
"Q4 FY2024 saw a continued uptick in the contribution from general merchandise and apparel," Noronha said.
DMart Ready, the e-commerce business, commenced operations in one new city(Gurugram) during the year while continuing to deepen its presence in existing cities.
"We are now present across 23 cities in India," Noronha said.
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