D-Mart Reports Profit Surge in Q1 of FY25
Avenue Supermarts Ltd., the parent company of the retail chain D-Mart, recorded a significant increase in its net profit for the April-June quarter (Q1) of the 2024-25 fiscal year (FY25).
The company’s consolidated net profit jumped by 17.45% to Rs 773.68 crore during Q1 FY25, compared to Rs 658.71 crore in the same period of FY24. The growth is primarily attributed to improved sales of general merchandise and apparels.
Total revenue from operations increased by 18.04% to Rs 14,069.14 crore in Q1 FY25, from Rs 11,865.44 crore in Q1 FY24. However, total expenses also rose by 18.62% to Rs 13,056.61 crore.
Total income for the quarter reached Rs 14,110.74 crore, a 18.54% increase year-over-year.
Commenting on the performance, Neville Noronha, CEO and MD of Avenue Supermarts, said that the contribution from general merchandise and apparel showed improvement, reflected in higher gross margins.
During Q1 FY25, D-Mart opened six new stores, bringing its total count to 371 as of June 30, 2024. Noronha noted that operating costs have increased due to efforts to enhance service levels and build capabilities for the future.
D-Mart, under the leadership of Radhakishan Damani and his family, follows the Everyday low cost – Everyday low price (EDLC-EDLP) strategy. This approach involves procuring goods at competitive prices through operational and distribution efficiency, ensuring value for customers through competitive pricing.
