DMart beats Street estimates: Profit grows 53% in Dec quarter to Rs 394 cr

Top line grows nearly 24 per cent despite weak consumer sentiment; EBITDA margins in Q3 for DMart came in at 8.8 per cent

Avenue Supermarts, which runs the DMart chain of stores in India, reported a 53.3 per cent year-on-year (YoY) rise in net profit at Rs 394 crore for the quarter ended December 31, 2019 (Q3), beating Street estimates.

The growth was driven in part by a lower corporate tax rate, as well as higher revenue and operating income, sector experts said. 

Profit before tax for the period under review stood at Rs 497.34 crore, a YoY growth of nearly 26 per cent.

A consensus estimate of analysts polled by Bloomberg had pegged net profit for the December quarter at Rs 359