Avenue Supermarts' Q4 Net Profit Surges 22.39% to Rs 563 Crore

Avenue Supermarts, owner of D-Mart stores, reported a 22.39% rise in net profit to Rs 563 crore for Q4 FY24, driven by revenue growth of 20.4%. For the full year FY24, net profit increased to Rs 2,536 crore, and revenue rose to Rs 50,789 crore. The company expanded its brick-and-mortar presence with 41 new D-Mart stores, reaching a total of 365 stores. Additionally, its e-commerce arm, DMart Ready, expanded to 23 cities.

Avenue Supermarts Ltd, which owns and operates D-Mart stores, on Saturday reported a 22.39 per cent rise in consolidated net profit at Rs 563 crore for the fourth quarter ended March 2024.

The company had posted a consolidated net profit of Rs 460 crore in the corresponding quarter of the previous fiscal, Avenue Supermarts said in a regulatory filing.

Its consolidated total revenue for the quarter stood at Rs 12,727 crore compared to Rs 10,594 crore a year ago, it added.

For the fiscal ended March 2024, the company said its consolidated net profit stood at Rs 2,536 crore against Rs 2,378 crore in FY23.

The company's consolidated total revenue for FY24 was Rs 50,789 crore compared to Rs 42,840 crore in FY23.

Avenue Supermart CEO & Managing Director Neville Noronha said DMart, the brick-and-mortar business, ended the year with growth across key financial parameters of revenue, EBITDA and PAT.

The company opened 41 new stores during the year, and its total store count stands at 365.

''Q4 FY2024 saw a continued uptick in the contribution from general merchandise and apparel,'' Noronha said.

DMart Ready, the e-commerce business, commenced operations in one new city(Gurugram) during the year while continuing to deepen its presence in existing cities.

''We are now present across 23 cities in India,'' Noronha said.

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