Dmart Q4 Net Profit Jumps 3.14% YoY to Rs 427 Crore, Revenue at Rs 8,786 Cr

Radhakrishna Damani led Avenue Supermarts Limited (Dmart) reported a net profit of 3.14 percent on an annualized basis during the quarter ended March 31, 2022. The consolidated net profit for the fourth quarter amounted to 427 crore, compared to 414 crore Rs in the corresponding quarter last year, said the company that owns the food and grocery chain Dmart on Saturday.

DMart’s total revenue increased by 18.53 percent on an annual basis to Rs 8,786, compared with Rs7,412 during the same period last year. The PAT margin was 4.8 percent for Avenue Supermarts during Q4 FY22 compared to 5.5 percent during Q4 FY21, the company said in a government announcement on Saturday, May 14. EBITDA during Q4 FY22 amounted to Rs 739 crore to Rs 613 crore during the corresponding quarter last year. The EBITDA margin was 8.4 percent during Q4 FY22 compared to 8.3 percent during Q4 FY21, the agency’s report said on the day.

Speaking of the results, Avenue Supermart’s CEO and CEO Neville Noronha said that January this year had started “extremely” well for the company but the Omicron wave destroyed it. “January 2022 started extremely well but then the Omicron wave of Covid-19 momentum diminished in the middle of the month. These waves usually damage the high margin and discretionary objects more. Like the trend from the past, the recovery takes 40-50 days after restrictions have “Omicron was a milder wave and therefore had a significantly lower negative impact,” he said.

“The month of March 2022 once again had a robust recovery and very satisfactory growth compared to March 2021. Overall, the quarter’s results and the last two waves of stop-start-stop give us extreme confidence in the business’ resilience to recover in the short term,” he added. Noronha.

Dmart, or Avenue Supermarts, said its FMCG business was recovering well. “The value proposition is clearly seen by our customers in this segment,” it noted in the application. In the discretionary non-FMCG segment, it is currently difficult to estimate whether the relatively lower growth is due to a secular change over time, the retailer added. This was due to an e-commerce shift or inflation or due to significantly higher Covid-related negative economic effects for some shoppers, Avenue Supermarts said in the application.

“We could only provide the qualitative interpretation if there are no more Covid suspensions / restrictions for at least two more quarters. An environment with high inflation helps us manage our costs better and also deliver relatively better value to shoppers,” says Radhakrishna Damani. -supported the company further.

Commenting on its e-commerce business Dmart Ready, the company said, “After the Omicron wave, e-commerce has slowed its growth path. But overall, we are quite happy and excited about this business. We learn every day. DMart Ready has again. “had a fantastic year. Sales in the first place this year were slightly more than twice as large as last year.”

Read all the latest news, the latest news and IPL 2022 live updates here.

Leave a Comment