D-Mart Announced Q2 Results: Shares in Focus

Avenue Supermarts Ltd. (ASL), operating under the brand D-Mart, has announced its standalone and consolidated financial results for the second quarter (Q2 FY25) and the first half (H1 FY25) ending September 30, 2024.

Standalone Results

For Q2 FY25, total revenue reached ₹14,050 crore, up from ₹12,308 crore in Q2 FY24. Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the period amounted to ₹1,105 crore, against ₹1,002 crore in the same quarter of last year. The company witnessed a fall in the EBITDA margin to 7.9%, as compared to 8.1% in Q2 FY24. Net profit for the quarter stood at ₹710 crore, against to ₹659 crore in Q2 FY24. This resulted in a profit after tax (PAT) margin of 5.0%, down from 5.3%.

For H1 FY25, total revenue was ₹27,762 crore, up from ₹23,892 crore year-on-year. EBITDA for the first half stood at ₹2,326 crore, compared to ₹2,038 crore in H1 FY24, with an EBITDA margin of 8.4%, slightly down from 8.5%. Net profit rose to ₹1,523 crore from ₹1,354 crore, yielding a PAT margin of 5.5%, down from 5.6%..

Consolidated Results

During the Q2 FY25, consolidated revenue stood at ₹14,445 crore, compared to ₹12,624 crore in the same period last year. EBITDA stood at ₹1,094 crore, up from ₹1,005 crore in Q2 FY24, with an EBITDA margin of 7.6%, down from 8.0%. Net profit for the quarter stood at ₹659 crore, compared to ₹623 crore last year, resulting in a PAT margin of 4.6%, down from 4.9%. 

For H1 FY25, consolidated revenue amounted to ₹28,514 crore, up from ₹24,490 crore YoY.  EBITDA stood at ₹2,315 crore, compared to ₹2,040 crore in H1 FY24, with an EBITDA margin of 8.1%, slightly down from 8.3%. Net profit rose to ₹1,433 crore from ₹1,282 crore, yielding a PAT margin of 5.0%, down from 5.2%. Basic EPS rose to ₹22.03 from ₹19.72.

As of September 30, 2024, the number of stores operated by the company stood at 377 stores, covering a retail business area of 15.8 million sq. ft across several states, including Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, NCR, Chhattisgarh, and Daman.

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited, said: “Overall H1 FY 2025 like-for-like revenue growth was 7.4% for 2 years and older stores. The Q2 FY 2025 like-for-like revenue growth for the same cohort of stores was at 5.5%. We clearly see the impact of online grocery formats including DMart Ready in large metro DMart stores which operate at a very high turnover per square feet of revenue. DMart Ready business grew by 21.8% in H1 FY 2025.” 

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