DMart Q1 result 2023: The first quarter of the fiscal year 2023-24 saw a 2 percent increase in consolidated net profit for Avenue Supermarts, the parent company of the DMart retail chain, to Rs 658.71 crore from Rs 642.89 crore in the same time the previous year. At Rs 11,865.44 billion, sales are up 18% year over year.
On July 15, Avenue Supermarts, which owns the DMart network of stores, said that its consolidated net profit for the DMart Q1 result 2023-24 was Rs 658.71 crore, up 2% from Rs 642.89 crore in the same time a year earlier.
DMart Q1 result 2023
The company’s DMart Q1 result 2023 consolidated net profit of Rs 460.10 crore increased by 43% year-over-year.
For the first quarter of FY24, standalone net profit was Rs.695 crore, up 2.2% from Q1FY23’s Rs.680 crore.
The company’s consolidated revenue from operations increased by 18.2 percent YoY (year-on-year), reaching Rs 11,865.44 crore in comparison to Rs 10,038.07crore in the prior year. Sales increased by 12 percent from the previous quarter’s level of Rs 10,594.11 crore.
For the fiscal quarter ending June 30, 2023, standalone total revenue of Rs. 11,584 crore was up 18 percent from Rs.9,807 crore in the same period in 2022.
Overall revenue was about where it should have been, but profit fell short. Brokerage estimates peg DMart Q1 result 2023 earnings at Rs 715 crore on sales of Rs 11,785 crore.
The company’s EBITDA for the first quarter of FY24 was Rs.1,035 crore, up from Rs.1,008 crore in the same period the previous fiscal year. In Q1FY24, the EBITDA margin was 8.7%, down from 10.0% in Q1FY23.
The decline in the gross profit margin is “primarily attributable to lower sales contribution of apparel and general merchandise,” compared to the same time last year. Mr. Neville Noronha, Chief Executive Officer and Managing Director of Avenue Supermarts Limited, stated.