Avenue Supermarts Ltd, which owns and operates retail chain D-Mart, on Saturday (January 13), reported a 17% rise in its consolidated net profit to ₹690.41 crore for the third quarter ended December 31.
The company had posted a net profit of ₹589.64 crore in the October-December quarter a year ago, according to a regulatory filing by Avenue Supermarts.
Its revenue from operations grew 17.31% to ₹13,572.47 crore during the quarter under review against ₹11,569.05 crore in the corresponding quarter of the last fiscal.
For the quarter ending on September 30, 2023, Avenue Supermarts reported standalone revenue from operations totalling ₹12,307.72 crore compared to ₹10,384.66 crore on a year-on-year basis.
Avenue Supermarts' total expenses rose 17.31% to ₹12,656.46 crore in the third quarter of this fiscal.
Its total income in the December quarter increased 17.28% to ₹13,605.39 crore. The total number of stores stood at 341 as of December 31, 2023.
Meanwhile, in a separate filing, Avenue Supermarts said its board has appointed Harishchandra M Bharuka as an Independent Director of the company.
Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, including Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
The shares of the company ended half a percent higher on Friday. Avenue Supermarts share price has fallen 6.5% since the third quarter business updates were announced.₹
(Edited by : Priyanka Deshpande)
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