Avenue Supermarts, the parent company of D-Mart, has announced its financial results for the second quarter (Q2) and first half (H1) of the fiscal year 2024-25 (FY25). The company showed solid growth in both revenue and profit, despite a slight decline in profit margins.
Q2 FY25 Results Highlights
Revenue Growth: Avenue Supermarts reported a 14.2% year-on-year (YoY) increase in standalone revenue, reaching ₹14,050 crore for the July to September 2024 quarter. This is a rise from ₹12,308 crore during the same period last year.
Net Profit: The company's net profit for Q2 FY25 was ₹710 crore, up 7.9% from ₹659 crore in Q2 FY24. The profit after tax (PAT) margin for the quarter was 5.0%, slightly lower than 5.3% in the previous year.
EBITDA: Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) stood at ₹1,105 crore, reflecting a 10.3% growth compared to ₹1,002 crore in Q2 FY24. The EBITDA margin came in at 7.9%, down from 8.1%.
Earnings per Share (EPS): Basic EPS for Q2 FY25 was ₹10.92, an increase from ₹10.12 in Q2 FY24.
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H1 FY25 Results Highlights
Total Revenue: For the first half of FY25, Avenue Supermarts posted total revenue of ₹27,762 crore, a 16.2% rise from ₹23,892 crore in the same period last year.
Net Profit: The company’s net profit for H1 FY25 was ₹1,523 crore, up 12.5% from ₹1,354 crore in H1 FY24. The PAT margin for H1 FY25 was 5.5%, slightly lower than 5.6% in the previous year.
EBITDA for H1 FY25: Avenue Supermarts reported an EBITDA of ₹2,326 crore for H1 FY25.
Store Expansion: D-Mart added 6 new stores in Q2 and 12 new stores in H1 FY25, bringing the total number of stores to 377 across India, with a total retail area of 15.8 million square feet.
Management Commentary
Neville Noronha, CEO and Managing Director of Avenue Supermarts, stated that the company's like-for-like revenue growth for older stores was 7.4% in H1 FY25, with 5.5% growth in Q2 FY25 for these stores. He also highlighted the rising competition from online grocery services like Blinkit and Swiggy Instamart but noted that DMart Ready, their own online grocery service, saw a strong 21.8% growth in H1 FY25.
Key Figures at a Glance:
-> Q2 FY25 Revenue: ₹14,050 crore (up 14.2%)
-> Q2 FY25 Net Profit: ₹710 crore (up 7.9%)
-> H1 FY25 Revenue: ₹27,762 crore (up 16.2%)
-> H1 FY25 Net Profit: ₹1,523 crore (up 12.5%)
-> New Stores Added: 6 in Q2, 12 in H1
Avenue Supermarts continues to grow steadily, expanding its presence and increasing revenues while maintaining its "Everyday Low Cost – Everyday Low Price" strategy. With increasing competition from online grocery platforms, the company remains focused on efficiency and value-driven pricing.
