Jobaaj Stories
Avenue Supermarts, the parent firm of DMart reported on October 3, a standalone revenue of Rs 10,385 crore for the quarter ending on September 30, 2022. The revenue booked in this quarter saw a jump of 35.8% as compared to the same period a year ago.
Since the Covid period, the standalone revenue of the company has nearly doubled in Q2 FY22. The standalone revenue figures for the pre covid period were reported to be Rs 5,949.01 crore.
UNCTAD forecasts India's growth rate at 5.7% in 2022, read more.
DMarts' standalone profit rose by nearly 46%, reporting a profit of Rs 680 crore for Q2 FY22 while it had booked Rs 115 crore in the corresponding period last fiscal year.
Standalone revenue from operations during the June 2022 quarter grew 95% year-on-year to Rs 9,807 crore during the quarter ended June 2022. On a sequential basis, the revenue growth stood at 14%
DMart, an Indian retail hypermarket, reported 284 stores across 11 states in India in the financial year 2022. It is also likely to add 134 stores by the end of March 2024.
"Large players can happily operate without worrying about each other, there’s no need to worry about that for another 20 years -- the headroom for growth is awesome.” Chief Executive Officer Neville Noronha.
On Wednesday, the shares of DMart are trading at Rs 4,466 apiece, up by 1.2%.
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