D-Mart Q2 consolidated net profit increases twofold to Rs 417 crore

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported a twofold increase in its consolidated net profit to Rs 417.76 crore for the second quarter ended September 2021.

The company had posted a net profit of Rs 198.53 crore in the July-October quarter a year ago, Avenue Supermarts said in a BSE filing.

Its revenue from operations was up 46.79 per cent to Rs 7,788.94 crore during the quarter under review as against Rs 5,306.20 crore in the corresponding quarter of the last fiscal.

Total expenses were at Rs 7,248.74 crore, up 43.63 per cent in the second quarter of 2021-22 as against Rs 5,046.69 crore of the year-ago quarter.

"Total Revenue for H1FY22 stood at Rs 12,972 crore, as compared to Rs 9,189 crore in the same period last year," the company said.

On a standalone basis, Avenue Supermarts' revenue from operations during the quarter was at Rs 7,649.64 crore, up 46.6 per cent, in comparison to Rs 5,218.15 crore in the second quarter of 2020-21.

Avenue Supermarts CEO & Managing Director Neville Noronha said, "Covid-19-related lockdown restrictions were eased further during this quarter. Revenue in the DMart stores grew by 46.6 per cent over the corresponding quarter of last year. Two years and older DMart stores grew by 23.7 per cent in the month of September 2021 as compared to September 2020."

D-Mart has 187 stores that are 2 years or older, he added.

As of September 30, 2021, D-Mart had 246 stores with Retail Business Area of 9.44 million sq. ft.