DMart's net profit surges 22.3% to Rs 563 crore in Q4 FY24; sees continued uptick in general merchandise and apparel contribution

New Delhi: DMart operator Avenue Supermarts has reported a rise of 22.3% in consolidated net profit at Rs 563.14 crore in the fourth quarter (Q4) ended in March 2024 as against the consolidated net profit of Rs 460 crore in the corresponding quarter of last year, it said in a regulatory filing on Saturday.

Its profit after tax (PAT) margin stood at 4.4 per cent in Q4 FY24 as compared to 4.3 per cent in Q4 FY23. Basic Earnings per share (EPS) for Q4 FY24 stood at Rs 8.66, as compared to Rs 7.10 for Q4 FY23.

As per the BSE filing, the company's total revenue from operations grew to Rs 12,727 crore in Q4 FY24, as compared to Rs 10,594 crore in the same period last year.

DMart's earnings before interest, tax, depreciation and amortization (EBITDA) in Q4 FY24 also rose to Rs 944 crore, as compared to Rs 772 crore in the corresponding quarter of last year. Its EBITDA margin stood at 7.4 per cent in Q4 FY24 as compared to 7.3 per cent in Q4 FY23.

The company's total revenue for FY24 grew to Rs 50,789 crore from Rs 42,840 crore in the same period last year. Its EBITDA in FY24 stood at Rs 4,104 crore as against Rs 3,637 crore during FY23. EBITDA margin stood at 8.1 per cent in FY24 as compared to 8.5 per cent in FY23, as filed in

For FY24, its net profit rose to Rs 2,536 crore from Rs 2,378 crore in FY23.

On DMart's brick-and-mortar business and overall performance, Neville Noronha, CEO and managing director said, “We ended the year with growth across key financial parameters of Revenue, EBITDA and PAT. Two years and older DMart stores grew by 9.9 per cent during FY 2024 as compared to FY 2023."

The company said it has 284 stores that are 2 years or older. In the year 2023-24, it has opened 41 new stores taking the total store count to 365.

During the quarter(Q4), the supermarket chain has seen a continued uptick in the contribution from general merchandise and apparel. Its gross margin improvement in Q4 FY24 as compared to the same quarter of previous fiscal, reflects this mix improvement.

Sharing about DMart Ready, its online business, Noronha said, "Our e-commerce business commenced operations in 1 new city (Gurugram) during the year while continuing to deepen its presence in existing cities."

Currently, the company has an online presence across 23 cities in India.