Avenue Supermarts, which operates retail chain Dmart, on Saturday reported a 65.2% year-on-year (y-o-y) growth in net profit to Rs 191 in Q2FY18. (Reuters)
Avenue Supermarts, which operates retail chain Dmart, on Saturday reported a 65.2% year-on-year (y-o-y) growth in net profit to Rs 191 in Q2FY18. The growth was driven by higher other incomes and lower finance costs. Total revenue was up 26.3% y-o-y to Rs 3,508 crore. The company’s interest expenses declined 65.6% y-o-y to Rs 10.93 crore, while other income increased to Rs 21.2 crore in the quarter compared to Rs 8.04 crore in the year-ago period, the company said. The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) was up 36.5% y-o-y to Rs 318 crore. The operating margin improved to 9.1% in Q2FY18 compared to 8.4% in Q2FY17.
Neville Noronha, chief executive officer and managing director, Avenue Supermarts, said, “Results have been in line with expectations. GST transition has been smooth and has settled across Avenue Supermarts and our partner network’s commercial and IT systems. We continue to follow everyday low cost — everyday low price strategy which aims at procuring goods at competitive price delivering value for money.”
