DMart Q1 results: Net profit rises marginally to Rs 695 cr; revenue jumps 18%

"Our revenue grew by 18 percent in this quarter over the corresponding quarter of last year. Overall gross margins are lower compared to same period in the previous year, primarily due to lower sales contribution of apparel and general merchandise. However, general merchandise contribution is recovering and trending towards prepandemic levels. We opened 3 new stores during the quarter. Our total stores now stand at 327,” said Neville Noronha, CEO & Managing Director, Avenue Supermarts.

The company's board has also given consent to offer employee stock options, subject to the approval of shareholders at the ensuing annual general meeting.

Under the ESOP scheme 2023, DMart plans to offer up to 1,500,000 options, which on exercise would entitle an equal number of equity shares of Rs 10 each of the company.

“Options shall be granted to eligible employees who are in General Management “G” Grade and who are in employment of the company as on the date of grant,” the company said in a filing.

Shares of Avenue Supermarts will be on focus in trade Monday. The stock settled 0.48 percent higher at Rs 3,840 apiece on Friday. DMart shares are up 0.61 percent in the last five trading sessions, while the stock tumbled 5.71 percent on a year-to-date basis.