D-Mart Operator’s Q3 Net Rises 2.1%
Avenue Supermarts, which runs the D-Mart supermarket chain, posted a 2.1% increase in its net profit despite a 33.2% jump in sales as margins were hit due to rising competition from rivals. During Q3 ended December 2018, net profit was
₹ 257 crore on revenue from operations of
₹ 5,451 crore. A year ago, the retailer had reported a net profit of ₹ 252 crore with net sales of
₹ 4,094 crore during the same period. While the company does not share quarterly same store sales growth numbers, analysts estimate it at 15%. “Topline continued to grow well though PAT growth remained flat vis-a-vis last year,” Neville Noronha, MD, Avenue Supermarts Limited, said.