Avenue Supermarts, owner and operator of DMart chain of retail stores, reported a 6.6 percent rise in consolidated post-tax profit at Rs 590 crore for the quarter ended December 2022 as against Rs 553 crore in the same quarter of the previous year.While the revenue is in-line with estimates, net profit is sharply lower than Moneycontrolu2019s estimate of Rs 646.5 crore. Sequentially, the net profit declined 13.8 percent from Rs 685 crore in Q2FY23.
Video Courtesy: The Economic Times Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) for the company in Q3FY23 came in at Rs 965 crore, as against Rs 866 crore in the corresponding quarter of the last year, up by 11.4 percent. EBITDA margin, however, declined to 8.3 percent from 9.4 percent in Q3 FY22.
u201cFMCG and staples segment continued to outperform the general merchandise and apparel segments. Margin percentage decline over the corresponding quarter of last year is a reflection of this mix change. Discretionary non-FMCG sales did not do as well as expected in this quarter,u201d Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said.
In its Q3 business update, the company said it added four stores in the October-December quarter taking the total count to 306. u201cEstimates stood at 12,u201d said analysts at Motilal Oswal Financial Services. In Q1, the company had added 10 stores, followed by eight in Q2.
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