D-mart reports revenue of Rs. 3,810 crore and Rs. 167 crore net profit for Q4FY18
Avenue Supermarts Ltd. (ASL), one of the largest food & grocery retailers in India, which owns and runs the D-mart brand, declared its financial results for the quarter and year ended March 31, 2018. Total revenue for the quarter ended March 31, 2018, stood at Rs. 3,810 crore as compared to Rs. 3,111 crore in the same period last year. ASL’S EBITDA in Q4FY18 stood at Rs. 294 crore as compared to Rs. 208 crore in the corresponding quarter of last year. The company reported Net Profit of Rs. 167 crore for Q4FY18 as compared to Rs. 97 crore in the corresponding quarter of last year. PAT margin improved from 3.1% in Q4FY17 to 4.4% in Q4FY18. Total Revenue for FY 18 stood at Rs. 15,009 crore, as compared to Rs. 11,881 crore for FY17. ASL’S EBITDA in FY18 stood at Rs. 1,337 crore as compared to Rs. 964 crore during FY17. For FY18, ASL’S net profit grew by 62.6% to Rs. 785 crore, as compared to Rs. 483 for last year.
D-mart follows ‘Everyday low cost - Everyday low price (EDLC- Neville Noronha, CEO & MD, Avenue Supermarts Limited. EDLP)’ strategy, which aims at procuring goods at competitive prices, using operational and distribution efficiency and thereby delivering value for money to customers. Commenting on the financial results, Neville Noronha, CEO & MD, Avenue Supermarts Limited, said, “Deflation in staples, tax rates not being comparable, store addition not in line with expectation and base effect of demonetization has made March 2018 revenue a little tepid. Grooming talent and store addition shall continue to remain the two main challenges as well as the focus areas for the company.”