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HomeBusinessD-Mart's profit more than doubled in the second quarter, revenue also increased

D-Mart’s profit more than doubled in the second quarter, revenue also increased

Ebitda margins rose 240 basis points year-on-year to 8.6 per cent in the September quarter

Avenue Supermarts Q2 Results: Avenue Supermarts, owner of hyper-retail chain D-Mart, on Saturday announced its September quarter results. Its profit more than doubled to Rs 418 crore in the September quarter from Rs 199 crore in the same quarter last year.

Revenue for the quarter grew by 46.79 per cent to Rs 7,789 crore from Rs 5,306 crore in the same period last year. Income before interest, and Ebitda for the quarter stood at Rs 669 crore as compared to Rs 330 crore in the corresponding quarter of last year.

EBITDA margin at 8.6 per cent

Ebitda margins rose 240 basis points year-on-year to 8.6 per cent in the September quarter, from 6.2 per cent in the year-ago quarter. In this, the full form of EBIT is (Earnings Before Interest, Taxes, Depreciation, and Amortization – EBITDA).

PAT margin also increased

PAT margin rose 160 basis points to 5.3 per cent year-on-year from 3.7 per cent.

During this quarter, the lockdown restrictions in Corona were further relaxed. Revenue in DMart stores has increased by 46.6 percent as compared to the same quarter last year. In this context, Neville Noronha, CEO and Managing Director, Avenue Supermarts Limited said that, there has been an increase of 23.7 percent in the month of September 2021 in the DMart store of two years and older as compared to September 2020. We have 187 stores that are 2 years old or more.

The September quarter results have been announced even before the festivals. That quarter was much better. After the lockdown and night curfew imposed in the wake of the corona virus epidemic, the shops opened completely. And emerging from the crisis, the work is back on track. It doubled to Rs 418 crore as compared to Rs 199 crore in the same quarter last year.

Actually, the result of the last shortage was the effect of the corona epidemic. Which has also been seen on the quarterly figures. But with this increase, it is certain that the financial performance is expected to be better in the coming quarter from the festive season.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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