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DMart’s stock price fell despite the company reporting a strong set of quarterly updates for Q2 FY25 (July 2024 – September 2024).
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In Q2FY25, the company’s standalone operating revenue stood at Rs 14,050.32 crore, an increase of over 14% from Rs 12,307.72 crore in the same quarter of the previous financial year (Q2FY24).
DMart recorded a turnover of Rs 10,384.66 crore in Q2FY23 and Rs 7,649.64 in Q2FY22.
The total number of stores as of September 30, 2024 is 377.
Financial performance of DMart
DMart’s profit grew 17.5% on a year-on-year (YoY) basis to Rs 773.7 crore in the June quarter of FY25 (Q1FY25), supported by improved general merchandise sales and clothing.
The company had posted a net profit of Rs 658.7 crore in the April-June period a year ago (Q1FY24).
The supermarket chain operator’s operating revenue soared nearly 19% year-on-year to Rs 14,069.1 crore in Q1FY25,
compared to Rs 11,865.4 crore in the corresponding quarter of the last financial year (Q1FY24).
Its total expenses in the June quarter increased by 18.6 per cent to Rs 13,056.61 crore. Meanwhile, total income jumped 18.5 per cent year-on-year to Rs 14,110.74 crore.
DMart Background
Avenue Supermarts Limited operates the DMart supermarket chain, which offers a wide range of home and personal products. Each DMart store offers a full range of items including groceries, toiletries, beauty products, clothing, kitchenware, bedding, appliances and much more.
Product categories cover bedding and bath essentials, dairy and frozen products, fresh produce, tableware, toys, children’s clothing, women’s and men’s clothing, home care items and personal care, household essentials and private brands from DMart.
Promoted by Radhakishan Damani and his family, DMart has established a strong presence across 196 locations across Maharashtra, Gujarat, Daman, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, National Capital Region (NCR), Tamil Nadu, Punjab and Rajasthan. Major cities hosting multiple DMart outlets include Mumbai, Ahmedabad, Vadodara, Bengaluru, Hyderabad, Pune and Surat.
The market capitalization of DMart is Rs 3,08,340.10 crore, according to the BSE.
At 9:31 am, DMart shares were trading 3.58 per cent lower at Rs 4,763.35 per share. In comparison, BSE Sensex was down 0.45 percent at 82,124.96 levels.
First publication: October 4, 2024 | 9:40 a.m. STI