Here are the key points from the article about Avenue Supermarts, the parent company of DMart:
Financial Results:
- Consolidated net profit rose 4.9% to ₹724 crore in Q3 FY24 compared to ₹690 crore in Q3 FY23.
- Net profit margin stood at 4.5% in Q3 FY24 compared to 5.1% in Q3 FY23.
- Total revenue for the quarter ended December stood at ₹15,973 crore, up 17.7% from ₹13,572 crore in the same period last year.
- Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3 stood at ₹1,217 crore, up from ₹1,120 crore in the corresponding quarter of last fiscal.
Three Quarters Performance:
- Total revenue for the three quarters ended December stood at ₹44,486 crore, up from ₹38,062 crore in the same period last year.
- EBITDA for the three quarters stood at ₹3,532 crore, up from ₹3,160 crore in the same period last year.
- EBITDA margin stood at 7.9% compared to 8.3% in the same period last year.
Management Update:
- Neville Noronha, CEO and Managing Director, will not be offering his candidature for renewal of his role after his current term in January 2026.
- The Board has appointed Anshul Asawa as the CEO Designate, effective March 15th, 2025.
Business Update:
- DMart continues to see increased intensity in discounting in the FMCG category and its impact on high turnover per square feet stores in metro towns.
- The company is seeing significantly more demand for home delivery compared to pick-up points and is aligning its business accordingly.
- Home delivery business now exceeds pick-up point sales contribution, and the company will continue to provide both channels of delivery as an option to customers in select towns.