Avenue Supermarts Q2 result: Net profit up 5.7% at Rs 659 cr, Ebitda up 29%

Avenue Supermarts Limited Q2 results: Revenue for the quarter saw a 14.41 per cent rise, amounting to Rs 14,444.5 crore, up from Rs 12,624.37 crore year-on-year

Avenue Supermarts Limited on Saturday released its financial results for the second quarter. The company's consolidated net profit increased by 5.77 per cent, reaching Rs 659.58 crore, compared to Rs 623.56 crore during the same period last year.

Revenue for the quarter saw a 14.41 per cent rise, amounting to Rs 14,444.5 crore, up from Rs 12,624.37 crore year-on-year. The company also posted a significant jump in earnings before interest, taxes, depreciation, and amortisation (Ebitda), which grew by 29.3 per cent to Rs 1,093.8 crore, compared to Rs 846 crore in the previous year.

Rakesh Damani-led Avenue Supermarts' margin expanded to 7.6 per cent, improving from 6.7 per cent year-on-year.

On Friday, shares of Avenue Supermarts dropped by Rs 34.1 or 0.74 per cent, closing at Rs 4,572.35 per share on the BSE.

Neville Noronha, chief executive officer (CEO) and managing director, Avenue Supermarts Limited, said, "Overall H1FY25 like-for-like revenue growth was 7.4 per cent for two years and older stores. The Q2FY25 like-for-like revenue growth for the same cohort of stores was at 5.5 per cent. We clearly see the impact of online grocery formats including DMart Ready in large metro DMart stores which operate at a very high turnover per square feet of revenue. DMart Ready business grew by 21.8 per cent in H1FY25.”

The company launched its first store in Mumbai in 2002. As of September 30, it operated 377 stores with a retail business area spanning 15.8 million sq ft across various regions, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman.