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DMart Q2 results: Net profit spikes 110% to Rs 417.8 crore

DMart Q2 results: Net profit spikes 110% to Rs 417.8 crore
Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Saturday reported a 110 percent jump in net profit at Rs 417.8 crore during the quarter ended September 30. In the corresponding quarter last year, the Mumbai-headquartered company posted a net profit of Rs 199 crore.
Total revenue for the quarter ended September 30, 2021, stood at Rs 7,789 crore, up 46.8 percent, from Rs 5,218 crore in the year-ago quarter. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY22 stood at Rs 670 crore, as compared to Rs 325 crore in the corresponding quarter of last year. EBITDA margin stood at 8.8 percent in Q2FY22 as compared to 6.2 percent in Q2FY21, Avenue Supermarts informed the BSE in a regulatory filing.
PAT margin stood at 5.8 percent in Q2FY22 as compared to 4.0 percent in Q2FY21. Basic Earnings per share (EPS) for Q2FY22 stood at Rs 6.93, as compared with Rs 3.25 for Q2FY21. Total revenue for H1FY22 stood at Rs 12,681 crore, as compared to Rs 9,051 crore in the same period last year.
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Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in H1FY22 stood at Rs 891 crore, as compared to Rs 434 crore during H1FY21. EBITDA margin stood at 7.0 percent in H1FY22 as compared to 4.8 percent in H1FY21.
PAT margin stood at 4.4 percent in H1FY22 as compared to 2.8 percent in H1FY21. Basic Earnings per share (EPS) for H1 FY22 stood at Rs 8.71, as compared with Rs 4.02 for H1FY21.
Commenting on the performance of the company, Neville Noronha, CEO & Managing Director, Avenue Supermarts Ltd, said, "COVID-19 related lockdown restrictions were eased further during this quarter. Revenue in the DMart stores grew by 46.6 percent over the corresponding quarter of last year. Two years and older DMart stores grew by 23.7 percent in the month of September 2021 as compared to September 2020. We have 187 stores that are 2 years or older."
"We have done a soft launch of DMart Ready in the cities of Surat and Vadodara. All our premises continue to follow all COVID-19 related protocols for the safety of our customers and employees. More than 96 percent of all our eligible employees have taken their second dose of vaccination. We continue to encourage all eligible employees to get fully vaccinated," Noronha said.
Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include - Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan.
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