Avenue Supermarts Ltd Reports Strong Q1 FY2025 Financial Results

On July 13, 2024, Avenue Supermarts Ltd, a major food and grocery retailer in India, announced its financial results for the quarter ended June 30, 2024.

Standalone Results

Avenue Supermarts Ltd (ASL’s revenue for this period was ₹13,712 crore, up from ₹11,584 crore in the same quarter last year. EBITDA reached ₹1,221 crore, compared to ₹1,036 crore in the previous year, with the EBITDA margin remaining stable at 8.9%. Net profit for the quarter stood at ₹812 crore, an increase from ₹695 crore last year, although the PAT margin slightly decreased from 6.0% to 5.9%. Basic earnings per share (EPS) for the quarter were ₹12.49, compared to ₹10.71 in the same period last year.

Consolidated Results

Avenue Supermarts Ltd’s total revenue for this quarter was ₹14,069 crore, an increase from ₹11,865 crore in the same period last year. The company’s EBITDA was ₹1,221 crore, up from ₹1,035 crore in the previous year, with the EBITDA margin remaining stable at 8.7%. Net profit for the quarter reached ₹774 crore, compared to ₹659 crore last year, maintaining a PAT margin of 5.5%. Basic earnings per share (EPS) for Q1FY25 were ₹11.89, compared to ₹10.14 in the same quarter last year.

Commenting on the company’s performance, Mr Neville Noronha, CEO and Managing Director, Avenue Supermarts Limited, said: “Our revenue for Q1 FY 2025 grew by 18.4%. Contributions from General Merchandise and Apparel continued to improve during the quarter, and this is reflected in the gross margin uptick (Q1 FY 2025 vs Q1 FY 2024). We opened 6 new stores during the quarter. Our total stores stand at 371 as of June 30, 2024. Operating costs have gone up due to continuing efforts on improving service levels and building capability for the future.”

About Avenue Supermarts Limited

Avenue Supermarts Limited, based in Mumbai, owns and operates D-Mart stores. D-Mart is a national supermarket chain offering a variety of home and personal products under one roof. The company focuses on foods, non-foods (FMCG), and general merchandise & apparel. As of June 30, 2024, it operates 371 stores with a retail business area of 15.40 million square feet across Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman.

On July 15, 2024, Avenue Supermarts share price opened at ₹5,126.45, touching the day’s high of ₹5,164.00 as of 09:33 AM on the NSE.

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