The company had reported a net profit of Rs 115.64 crore in the corresponding quarter a year ago.
For the half year period ended September 30, 2017, the company's net profit grew by 56.3 per cent to Rs 366 crore, as compared to Rs 234 crore a year ago.
Its total revenue for the first half of this fiscal stood at Rs 7,106 crore as compared to Rs 5,431 crore during the period.
Avenue Supermarts listed on the stock exchanges with a blockbuster listing in March this year, making Radhakishan Damani the founder of the company and a low-profile investor a part of India's richest 20 club.
At present, the company operates 136 stores in Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Punjab and Chhattisgarh.