DMart Q4 results: Avenue Supermarts Limited, which owns the retail chain DMart, released their January to March quarter results on Saturday and posted a 22% year-on-year jump in their net profits. The company’s profit after tax (PAT) rose from ₹460.1 crore in Q4FY23 to ₹563.1 crore during the period under review.
DMart’s revenue from operations grew 20% to ₹12,726 crore during Q4FY24, compared to ₹10,594 crore during the same period last year.
Sequentially, DMart reported an 18% drop in its net profit from ₹690.7 crore during the quarter ending December 2023. The company’s revenue from operations declined 6% quarter on quarter (QoQ) from ₹13,572.4 crore during Q3FY24.
EBITDA margin at 7.4%
DMart’s Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) in Q4FY24 stood at ₹944 crore, compared to ₹772 crore in the corresponding quarter of last year. The EBITDA margin stood at 7.4% in Q4FY24, compared to 7.3% in Q4FY23, the company said in a regulatory filing.
“We ended the year with growth across key Revenue, EBITDA and PAT financial parameters. Two years and older, DMart stores grew by 9.9% during FY 2024 as compared to FY 2023. We have 284 stores that are two years or older. We opened 41 new stores during the year, and our total store count stands at 365. Q4 FY 2024 saw a continued uptick in the contribution from General Merchandise and Apparel. Our Gross Margin improvement (Q4 FY 2024 vs Q4 FY 2023) reflects this mix improvement,” Neville Noronha, CEO & Managing Director, Avenue Supermart, said while speaking on the performance of DMart’s Brick and Mortar business.
“Our E-Commerce business commenced operations in 1 new city (Gurugram) during the year while continuing to deepen its presence in existing cities. We are now present across 23 cities in India,” the top officer added while speaking on the DMart Ready business.
DMart shares closed 0.29% up at ₹4,618.45 apiece on Friday.
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Published: 04 May 2024, 04:01 PM IST
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