D-Mart's Q1 net profit rises 17.5% to Rs 774 cr, sales up 18.5% to Rs 14,069.14 cr

New Delhi: Avenue Supermarts Ltd, which owns and operates the retail chain D-Mart, on Saturday reported an increase of 17.45 per cent in consolidated net profit at Rs 773.68 crore for the June quarter, helped by improvement in sales from general merchandise and apparels.

The company had posted a net profit of Rs 658.71 crore in the April-June period a year ago, according to a regulatory filing from Avenue Supermarts.

Its revenue from operations was up 18.57 per cent to Rs 14,069.14 crore during the quarter under review as against Rs 11,865.44 crore in the corresponding quarter last fiscal.

Avenue Supermarts' total expenses in the June quarter were up 18.62 per cent to Rs 13,056.61 crore.

Avenue Supermarts' total income was Rs 14,110.74 crore, up 18.54 per cent in the June quarter.

Commenting on the results, Avenue Supermarts CEO & Managing Director Neville Noronha said, "Contribution from general merchandise and apparel continued to improve during the quarter and this is reflected in the gross margin uptick." During the quarter, D-Mart opened six stores, taking its total count to 371 as on June 30, 2024.

"Operating costs have gone up due to continuing effort on improving service levels and building capability for the future," Noronha added.

Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets, which include Maharashtra, Gujarat, Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Madhya Pradesh, Rajasthan, Punjab, and NCR.