On Saturday, Avenue Supermarts Ltd, the owner and operator of the retail chain DMart, disclosed a 17 percent increase in its consolidated net profit, reaching Rs 690.41 crore for the third quarter concluding on December 31.
The company had posted a net profit of Rs 589.64 crore in the October-December quarter a year ago, according to a regulatory filing by Avenue Supermarts.
During the quarter under review, the revenue from operations for Avenue Supermarts Ltd expanded by 17.31 percent, amounting to Rs 13,572.47 crore, as compared to Rs 11,569.05 crore in the corresponding quarter of the previous fiscal year.
In the third quarter of this fiscal year, Avenue Supermarts witnessed a 17.31 percent increase in total expenses, reaching Rs 12,656.46 crore.
Avenue Supermarts (DMART) reported a 17.31 percent year-on-year (YoY) rise in consolidated revenue from operations at Rs 13,572.47 crore, as against Rs 11,569.05 crore in the December 2022 quarter. The standalone revenue rose 17.1 percent from Rs 11,304.58 crore in the previous year.
Avenue Supermarts further noted that it has approved the appointment of Harishchandra M Bharuka, an industry veteran with four decades of experience, as its independent director for a term of five consecutive years starting January 13.
On January 12, Avenue Supermarts’ stock (dmart share) closed at Rs 3,843 apiece on the National Stock Exchange (NSE), up 0.57 percent from the previous day.
