Retail chain D-Mart operator Avenue Supermarts Ltd on Saturday reported a 2.46% rise in its consolidated net profit at ₹658.71 crore in April-June 2023 quarter, as decrease sales of attire and common merchandise impacted margins.
The firm had posted a net profit of ₹642.89 crore within the corresponding quarter a yr in the past, mentioned Avenue Supermarts in a BSE submitting.
Its income from operations was up 18.20% to ₹11,865.44 crore through the quarter beneath assessment as towards ₹10,038.07 crore in the identical quarter final fiscal.
Avenue Supermarts’ complete bills have been at ₹11,006.92 crore, up 19.74% in first quarter of FY24.
The complete revenue of Avenue Supermarts within the June quarter was at ₹11,904.18 crore, up 18.24%.
Avenue Supermarts CEO & Managing Director Neville Noronha mentioned: “Overall gross margins are lower compared to the same period in the previous year, primarily due to lower sales contribution of apparel and general merchandise.
“However, common merchandise contribution is recovering and trending in direction of pre-pandemic ranges,” he added.
During the June quarter, D-Mart opened three new shops, taking the whole rely to 327 with a retail enterprise space of 13.5 million sq. toes.
D-Mart operates throughout Maharashtra, Gujarat, Daman, Andhra Pradesh, Karnataka, Telangana, Tamil Nadu, Madhya Pradesh, Rajasthan, NCR, Chhattisgarh and Punjab.
