D-Mart parent’s Q3 net rises 16.4% to ₹447 crore

Festive sales pushed metrics, says CEO

Avenue Supermarts Ltd., which owns and operates retail chain D-Mart, on Saturday reported an increase of 16.4% in consolidated net profit to ₹446.95 crore for the third quarter ended December 2020.

The company had posted a net profit of ₹384.01 crore in the October-December quarter a year earlier, Avenue Supermarts said in a BSE filing.

Revenue from operations was up 10.8% at ₹7,542 crore during the quarter under review as against ₹6,808.93 crore in the corresponding quarter last fiscal.

Avenue Supermarts’ total expenses were at ₹6,977.88 crore as against ₹6,325.03 crore, an increase of 10.3%.

“Our overall sales and sales mix are now trending very close to our usual times except for specific customer consumption changes post COVID-19,” said CEO & MD Neville Noronha. “Apparel, footwear… out of home usage categories are taking more time to recover.”

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