Avenue Supermarts (DMart) Q1 Results FY2023: Net profit at Rs.643 crore for Q1FY23 | 5paisa Quarterly Results

On 9th July 2022, Avenue Supermarts announced its quarterly results for the last quarter of FY2022.

Key Highlights:

Standalone Results:

- Total Revenue for the quarter ended June 30, 2022 stood at Rs.9,807 crore, as compared to Rs.5,032 crore in the same period last year.

- EBITDA in Q1FY23 stood at Rs.1,008 crore, compared to Rs.221 crore in the corresponding quarter of last year. 

- EBITDA margin stood at 10.3% in Q1FY23, compared to 4.4% in Q1FY22. 

- Net Profit stood at Rs.680 crore for Q1FY23, as compared to Rs.115 crore in the corresponding quarter of last year. 

- PAT margin stood at 6.9% in Q1FY23 as compared to 2.3% in Q1FY22. 

- Basic Earnings per share (EPS) for Q1FY23 stood at Rs.10.49, as compared to Rs.1.78 for Q1FY22

Avenue Supermarts Q1FY23 Result Review

Consolidated Results:

- Total Revenue for the quarter ended June 30, 2022 stood at Rs.10,038 crore, as compared to Rs.5,183 crore in the same period last year. 

- EBITDA in Q1FY23 stood at Rs.1,008 crore, compared to Rs.224 crore in the corresponding quarter of last year. 

- EBITDA margin stood at 10.0 % in Q1FY23, compared to 4.3% in Q1FY22

- Net Profit stood at Rs.643 crore for Q1FY23, compared to Rs.95 crore in the corresponding quarter of last year. 

- PAT margin stood at 6.4% in Q1FY23 as compared to 1.8% in Q1FY22 

- Basic Earnings per share (EPS) for Q1FY23 stood at Rs.9.93, as compared to Rs.1.47 for Q1FY22. 

Business Highlights:

- General Merchandise and Apparel categories saw relatively better traction than the previous quarter but still have some overhang of the Covid-19 led disruptions and acute inflationary impact. 

- High inflation over the last two years hides the possible stress in volume growth for discretionary categories of mass consumption. 

- Value growth through positive volume growth of discretionary products in relatively older stores is the best reflection of the strength of the DMart business, competitive impact, and the local economy. 

- DMart Ready continues to deepen its presence across 12 cities in India.

Commenting on the performance of the company Mr. Neville Noronha, CEO & Managing Director, Avenue Supermarts Limited said: 

“We ended Q1 FY 2023 with growth across all key financial parameters. There has been a very good recovery of overall sales. However, this quarter’s performance is not comparable to the same period last year due to the second wave of Covid-19 during that time. We cumulatively opened 110 stores over the last 3 financial years which never got an opportunity to operate in normal circumstances over the last 2 years. These are stores that are larger, better designed and have capacity to handle larger scale of revenue. These stores have done extremely well in this quarter. This is also the first full quarter of zero disruption from Covid-19 pandemic. Q1 like Q3 is a good revenue as well as profit enhancing period due to back to school/college season and the onset of the monsoons.”