Avenue Supermarts (Dmart) said that its consolidated net profit jumped 22.41% to Rs 563.25 crore in Q4 FY24 as compared with Rs 460.13 crore in Q4 FY23.
Revenue from operations increased 20.13% to Rs 12,726.55 crore in the quarter ended 31 March 2024.In Q4 FY24, profit before tax (PBT) stood at Rs 763.20 crore , up 22.12% YoY.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY24 stood at Rs.944 crore, registering the growth of 22.28% as compared to Rs 772 crore in the corresponding quarter of last year. EBITDA margin stood at 7.4 % in Q4FY24 as compared to 7.3% in Q4FY23.
D-Mart follows Everyday low cost - Everyday low price (EDLC-EDLP) strategy which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers by selling at competitive prices.
On Standalone basis, the companys net profit jumped 19.6% to Rs 604 crore in Q4 FY24 as compared with Rs 505 crore in Q4 FY23. Revenue from operations increased 19.89% to Rs 12,393 crore in the quarter ended 31 March 2024 as compared with Rs 10,337 crore posted in quarter ended 31 March 2023.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY24 stood at Rs 940 crore, as compared to Rs 782 crore in the corresponding quarter of last year. EBITDA margin stood at 7.6% in Q4FY24 as compared to 7.6% in Q4FY23.
Neville Noronha, CEO & managing director, Avenue Supermarts, said: DMart (Brick and Mortar) Business Overview, we ended the year with growth across key financial parameters of revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9% during FY 2024 as compared to FY 2023. We have 284 stores that are 2 years or older. We opened 41 new stores during the year and our total store count stands at 365. Q4 FY 2024 saw continued uptick in the contribution from General Merchandise and Apparel. Our Gross Margin improvement (Q4 FY 2024 versus Q4 FY 2023) reflects this mix improvement.
Mumbai-based Avenue Supermarts owns and runs the popular D-Mart stores, a national supermarket chain offering a variety of home and personal products.
The scrip rose 0.64% to Rs 4,639.90 on the BSE.
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