D-Mart Q1 net down 87.6 pc to Rs 40 cr; sales drop 33 pc to Rs 3,883 cr

Avenue Supermarts CEO and Managing Director Neville Noronha said, "Covid-19 continued to spread across the country. The ensuing restrictions have had a significant impact on our operational and financial performance in the quarter.

Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday reported an 87.59 per cent decline in consolidated net profit at Rs 40.08 crore for the June quarter, impacted by the COVID-19 crisis

The company had posted a net profit of Rs 323.06 crore in the April-June period a year ago, Avenue Supermarts said in a BSE filing

Revenue from operations dropped 33.21 per cent to Rs 3,883.18 crore during the quarter under review as against Rs 5,814.56 crore earlier. Avenue Supermarts CEO and Managing Director Neville Noronha said, "Covid-19 continued to spread across the country. The ensuing restrictions have had a significant impact on our operational and financial performance in the quarter. Our revenue, EBIDTA and PAT for the quarter were significantly lower as compared to the same quarter last year." Total expenses stood at Rs 3,875.01 crore in Q1 FY21 as against Rs 5,318.64 crore, down 24.96 per cent.

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