D-Mart parent Q4 net profit up at Rs 97 crore

In the first quarterly results declared after its public issue, Avenue Supermarts, which runs D-Mart stores, posted a 47 per cent growth in its standalone net profit for the fourth quarter of financial year 2016-17 (FY17). 

The company posted a net profit of Rs 97 crore in Q4FY17, compared to Rs 66 crore in the corresponding quarter of the year earlier. Total income went up 40.5 per cent at Rs 3,120 crore in Q4FY17 compared to Rs 2,220 crore in the year-ago period.

The company posted a 41 per cent growth in its earnings before interest, tax, depreciation and amortisation (Ebitda) at Rs 217 crore. The Ebitda margin increased from 6.93 per cent in Q4FY16 to 6.95 per cent in Q4FY17.

For the full-year period ended March 31, 2017, the company’s net profit jumped 51.6 per cent to Rs 483 crore, compared to Rs 318 crore in the corresponding period a year earlier. Total revenue for FY17 stood at Rs 11,912 crore, compared to Rs 8,595 crore during FY16.

The company said its like-for-like (LFL) growth was 21.2 per cent in FY17, compared to 21.5 per cent in FY16. LFL is the growth in sales from sale of same stores, which have been operational for at least 24 months at the end of a financial year. Avenue Supermarts opened 14 stores in the last three months, taking the total to 131.

Neville Noronha, chief executive officer and managing director of Avenue Supermarts said: “Both the quarterly and financial year annual results have been in line with our expectations. All markets have done well and have shown consistent growth.”

The company also launched its e commerce operations last quarter.